MOMAH to issue regulatory framework for real estate coding in June: Al-Hogail

Minister of Municipalities and Housing Majed Al-Hogail

Minister of Municipalities and Housing Majed Al-Hogail said that real estate coding in the Kingdom represents a single, integrated, organized, and digital pathway, designed to be scalable.
 

Speaking during the Real Estate Future Forum today, Al-Hogail explained that the real estate coding journey began with a set of six steps, namely:
 

- Onboarding assets into the digital market, through the approval of eligible Saudi real estate assets suitable for investment.

- Onboarding investors into the ecosystem, via digital identity and eligibility procedures through trusted platforms.

- Digital ownership, by representing ownership digitally and linking it to the digital real estate registry.

- Activating investment, by enabling fractional ownership and providing a unified and seamless digital investment experience.

- Formal registration of ownership, ensuring full alignment and integration between digital records and physical real estate assets.

- Professional asset management.

- Trading digital assets, through ownership transfers and exit mechanisms via regulated channels that support liquidity and continuity.
 

He added that the future of real estate coding in Saudi Arabia will progress through three main phases:
 

- Phase one: Successful execution of a real estate code trading transaction during the previous Cityscape event.

- Phase two: Development of the secondary market, enabling international investments, and setting standards for real estate coding.

- Phase three: Enabling new use cases, expanding access to global markets, and publishing the regulatory framework—expected in June.
 

The minister emphasized that Saudi Arabia will be the first country to establish official standards for real estate coding through the Real Estate General Authority as a trusted government regulator, ensuring the protection of stakeholders’ rights.