The Real Estate General Authority (REGA) has announced the nearing deadline for the first phase of real estate title registration in Cordoba District, Buraidah City, which will conclude by the end of Monday, 7 October 2024, corresponding to 4 Rabi' Al-Thani 1446 Hijri. REGA urged property owners in the Cordoba District to promptly register their properties through the electronic Real Estate Registry Platform (rer.sa) before the deadline in order to benefit from real estate transaction execution services and the documentation of any changes made to their properties.
REGA clarified that the title registration process allows for the issuance of a "property number" and a title registration deed for each registered real estate unit. The title deed includes the property’s precise geographical location, ownership details, descriptions, current condition, and any associated rights and obligations. It also records all transactions related to the property, providing a documented basis for ownership and any real estate rights, thereby contributing to the sustainability and development of the real estate sector and its key enablers.
REGA confirmed that failure to register properties within the specified period may result in financial penalties, as outlined in the Law of Real Estate Registration. These penalties are determined by a designated committee responsible for reviewing violations. REGA added that title registration applications remain open in all announced regions, even after the expiration of the registration period defined in the announcement.
It is worth noting that the National Real Estate Registration Services Company (Real Estate Registry RER) is responsible for establishing and managing the Real Estate Registry in the Kingdom. This is achieved through an integrated digital platform that utilizes advanced technologies and geospatial data to enhance transparency and trust in real estate services and information.