Under the Ministry of Justice, the real estate exchange witnessed trading approximately 61 mn sqm of properties in Saudi Arabia during its first week of operation, Invest-Gate reports.

The total number of transactions reached 17,000 deals, with a value exceeding SAR 17 bn. More than 500,000 visitors have benefited from the services of the real estate exchange, launched by the Minister of Justice, Waleed bin Mohammed Al-Samaani.

Moreover, the exchange provides its services around the clock, which include buying and selling properties, sorting and merging services with the real estate identity, and updating title deeds.

It also offers mortgage services and everything related to them. Property owners who have not updated their paper property deeds can benefit from the deed updating service provided by the exchange.

The updated property deed, free from obstacles and restrictions, is automatically listed in the available properties on the real estate listings. Beneficiaries can access their updated property ownership information by accessing the real estate inquiries and selecting their owned properties.

Furthermore, the real estate exchange also provides a range of daily indicators for the value of real estate transactions in cities and neighborhoods across the kingdom, available for trading. Since electronic registration, these indicators can be displayed hourly, daily, weekly, monthly, yearly, or historical.

Notably, the indicators measure transaction numbers, property numbers, the value in Saudi riyals, the area in square meters, and the value per square meter. Also, they allow tracking the real estate situation in the most active areas, accessing property prices, square meter prices, and their increase, and comparing them to different regions.