Housing Minister says Realty In-kind Registration Law to bring 'qualitative shift'

Minister of Municipal, Rural Affairs and Housing Majed Al Hogail

Saudi Arabia’s Minister of Municipal, Rural Affairs and Housing Majed Al Hogail said that the Realty In-Kind Registration Law (RKR Law) will be a qualitative shift for the real estate sector by increasing the reliability of the title deeds, improving transparency with the accuracy of data, and solving challenges of joint and overlapping ownership.

The new law will set the Real Estate General Authority as a unified reference for the in-kind registration of the property, thereby enhancing transparency and reliability in the sector and achieving the goals of Vision 2030, the minister said in a tweet.

The new law will preserve all changes and transactions of the property, granting each property a special real estate deed number, linking the property location to accurate coordinates, and giving the property absolute ownership that is not subject to appeal, Al Hogail noted.

He pointed out that in-kind registration will promote the real estate investment environment in the Kingdom by providing automated digital services for subsequent real estate transactions, where the law achieves ownership reliability, accuracy of property information, preservation of the property’s history, and protection of customers in the sector.

Among the advantages of in-kind registration is that it includes all types of properties (land, villa, apartment, etc.), digitization of registration and custody procedures, easy access to data of any property, free first registration and updating of property data when changed.

According to data available on Argaam, the Saudi Cabinet approved, on April 19, the Realty In-Kind Registration Law.