Abdullah bin Mohammed bin Ibrahim Al Al-Sheikh, head of Shura Council
Saudi Arabia’s Shura Council, chaired by Abdullah bin Mohammed Al Al-Sheikh, approved on Nov. 8 the draft realty in kind registration law, Saudi Press Agency (SPA) reported.
The draft system, mentioned in Article 40, achieves the commitment to accurately characterize a property through its coordinates and descriptions, its legal status, the rights on the property and the obligations arising from it.
This way the property is characterized and defined specifically, not according to the owner, as is the case of personal registration, which limits disputes relating to real estate units and ensures that property rights are significantly established.
The system draft also has a positive impact on the Saudi real estate market, encouraging investment and supporting the development objectives of the sector.
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