Under the patronage of Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate Authority Majid bin Abdullah Al-Hogail and in the presence of Governor of the Digital Government Authority Ahmed bin Mohammed Al-Suwayan, the Simaat platform signed a technical linkage agreement with Ejar network on Oct. 2 at the headquarters of the General Real Estate Authority in Riyadh.
Real estate offices, owners, companies, and all those interested in the commercial sector were also present.
Dhaifallah Al-Hassani, CEO of the Simaat platform, said: “The signing of this agreement comes in line with digital transformation, one of the main pillars of the Kingdom’s Vision 2030, which aims to improve the quality of life for citizens, which was announced by Crown Prince Mohammed bin Salman, to unleash the creative energies of Saudis in various fields.”
He added: “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.”
Sami Al-Sharekh, executive vice president of Simaat, said: “The Simaat platform is the largest real estate property management platform that has succeeded in documenting contracts executed on the platform whose value exceeds SR 2.5 billion, and it is the only platform specialized in real estate endowments.”
He added: “Simaat platform supports the real estate development and investment sectors and real estate technologies supported by artificial intelligence, and it is a flexible platform according to the needs of the client.”
Al-Sharekh stated that the Simaat platform includes 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 Simaat platform has provided innovative real estate technology solutions to automate operations in real estate companies by transforming their work into paperless offices to preserve the environment, as these solutions contribute to reducing operating costs by 49 percent and accelerate the companies’ business by 300 percent.
In terms of digital transformation, Simaat was keen to invest in creating specialized real estate technologies that rely on artificial intelligence to complete procedures automatically on behalf of the user, reducing daily work.
The Simaat platform system also contributes to business governance and preserving the rights of all parties from real estate owners to renters and real estate brokers, since it provides a fully automated financial system for recording corporate accounting operations without the need for an accountant specializing in business.
It also allows for digital invoices that are compatible with the requirements of the Zakat, Tax and Customs Authority. These invoices are issued automatically and without any human intervention, making Simaat the fastest cloud system because it relies on engines and technical structures designed specifically for it.
Simaat will also announce partnerships with the government sector in the coming months with the aim of promoting the transformation of the real estate sector into a digital market in line with Vision 2030.
The Simaat platform is the only one in the Middle East specializing in real estate technologies, providing its services to more than 15,000 beneficiaries. Simaat also invests in machine learning and artificial intelligence technologies and has successful applications in image recognition and building maintenance distinctions through images only.