130,000 real estate sales and purchases in Saudi Arabia within a year

Saudi courts received about 43.1 thousand requests to release real estate mortgages during the past year, with an average of 118 requests per day, according to judicial statistics. The Riyadh region accounted for 70.9% of these requests and lawsuits, with 30,548 requests, followed by Mecca with 4,038 requests.

The Ministry explained that real estate trading operations (buying and selling) amounted to 130,000 transactions, and 100,000 sorting and merging transactions, while the number of mortgage and real estate financing services operations reached 20,000 transactions.

Mortgage release requests

The number of mortgage release requests in the Eastern Province reached 2,425 requests, followed by the Qassim region with 1,620 requests, then Medina with 1,501 requests, and the Northern Border Region with 216 requests, during the last Hijri year, according to Al-Eqtisadiah.

This comes at a time when the Ministry of Justice explained that more than 250,000 transactions were conducted through the real estate stock exchange, during the trial launch, which varied between real estate emptyings, real estate sorting and merging, and mortgage and real estate financing services.

Real estate stock exchange

In addition, the value of real estate trading transactions on the real estate stock exchange during the past two days amounted to 1.2 billion riyals, at a rate of 250 thousand riyals per hour.

During the same period, the stock exchange witnessed an increase of 200% in the number of its users and those benefiting from its services.

During its first experimental phase, the stock exchange received about a thousand beneficiaries per hour, but the number of beneficiaries increased after the official launch to reach more than 140 thousand beneficiaries during the first two days of launch, at a rate of 300 beneficiaries per hour.

Real Estate Exchange

During the first week of its launch, the Real Estate Exchange affiliated with the Ministry of Justice in Saudi Arabia witnessed the trading of about 61 million square meters of real estate in various regions of the Kingdom. The total number of deals reached 17 thousand deals, with a value exceeding 17 billion riyals ($4.5 billion).

The number of beneficiaries of the real estate stock exchange services, which were inaugurated early last week by the Minister of Justice, Dr. Walid bin Muhammad Al-Samaani, reached more than 500,000 visitors.

Real estate experts described these numbers as reflecting the size and magnitude of the real estate market in Saudi Arabia, and positive indicators of the relative movement of the market, adding that the platform will eliminate previous judgments and ambiguity in the market, and will increase the market’s attractiveness to foreign investors, and will become an indicator and a huge real estate database characterized by governance, transparency, and credibility. 

It is noteworthy that the stock exchange provides its services around the clock, the most prominent of which is real estate trading, buying and selling, in addition to services for sorting and merging with real estate identity and instrument updating services, in addition to mortgage services and everything related to them.

The Real Estate Stock Exchange also provides a set of daily indicators of the value of real estate transactions in the cities and neighborhoods of the Kingdom that are available for trading, as they can be displayed chronologically at the level of the hour, day, week, month, year, or the entire historical period of the transactions since the beginning of their electronic registration.