RIYADH: Real estate technology provider Simaat platform has signed a technical integration agreement with Ejar Network, a comprehensive system that aims to develop the housing sector in Saudi Arabia.
According to a press release, the agreement was signed in the presence of Majid Al-Hogail, the minister of the Ministry of Municipal and Rural Affairs and Housing — who is also the chairman of the Real Estate Authority, and Ahmed Mohammed Al-Suwaiyan, governor of the Digital Government Authority.
Integrating the Simaat platform with the Ejar network will boost efficiency by simplifying documentation procedures with the aim of reducing the user experience period from 15 minutes on average to less than one minute.
“By virtue of this agreement, the Simaat platform will become the first real estate property management platform linked to a rental network for direct documentation of rental contracts on the Simaat platform,” said Dhaifallah Al-Hassani, CEO of the Simaat platform.
Executive Vice President of the Simaat platform Sami Al-Sharekh said the platform involves the largest real estate property management companies in Saudi Arabia and is linked and integrated with various government agencies such as the Ministry of Justice, the Ministry of Commerce, Sadad and Mada.
The press release added that Simaat platform is expected to announce its partnerships with government entities with the aim of promoting the transformation of the real estate sector into a digital market in line with Vision 2030.
Apart from Simaat platform, Ejar also signed digital integration agreements including the Aqar platform, Mojzyah Investment, Nufouth, and AtarCloud, Saudi Press Agency reported.
“The authority works through these real estate partnerships with the private sector to activate its role in supervising the non-governmental real estate sector,” said Abdullah Al-Hammad, CEO of the Real Estate General Authority.
He also added that the integration agreement will bolster investors in the digital real estate solutions sector.