- Madak announces the signing of a partnership agreement with the Real Estate Registry to launch the fractional ownership model in Saudi Arabia.
- The agreement aims to enhance the investor experience and enable them to complete the ownership and real estate registration journey digitally.
- The Madak app helps automate procedures and simplify investment processes.
Madak has announced the signing of a partnership agreement with the Real Estate Registry to launch the fractional real estate ownership model in Saudi Arabia.
The agreement was formalized during the Cityscape exhibition, under the patronage of Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, and with support from the Regulatory Sandbox of the General Real Estate Authority.
The agreement aims to enhance the investor experience by enabling users to complete the entire ownership and real estate registration journey digitally through the Madak app.
This includes automating processes, simplifying investment steps, and improving the level of trust and transparency in real estate ownership transactions.
The partnership also enables technical integration with the Real Estate Registry to officially and uniformly record and manage real estate assets, support fractional ownership services, and tokenize real estate properties ultimately improving data quality and reducing time and effort for investors.
Madak is the first application in Saudi Arabia to operate under a fractional real estate ownership model within the General Real Estate Authority s Regulatory Sandbox.
The platform is preparing to launch its first fractional ownership investment opportunities after completing full technical integrations with the Real Estate Registry, opening new horizons for digital real estate investment in the Kingdom.
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