The Emirates Times

Linkedin Twitter Facebook Tumblr

The Emirates Times

– Make It Happen
Enquire Now
Menu
  • HOME
  • INTERVIEW
  • UAE
  • GULF NEWS
    • Dubai
    • Jordan
    • Bahrain
    • Abu Dhabi
    • Saudi Arabia
    • Oman
  • BUSINESS
  • TECHNOLOGY
  • LIFESTYLE
  • EVENT
  • SUCCESS STORIES
  • METAVERSE

The Emirates Times

– Make It Happen
Menu
  • Home
  • Interview
  • UAE
  • Gulf News
    • BUSINESS
    • Dubai
    • Jordan
    • Saudi Arabia
    • Abu Dhabi
    • Bahrain
    • Oman
  • Technology
  • Lifestyle
    • Biography
    • EVENT
  • Metaverse
Home Gulf News Saudi Arabia

Saudi’s Real Estate General Authority Reports Record Growth with Mollak

December 31, 2023
in Saudi Arabia
0 0
0
Saudi’s Real Estate General Authority Reports Record Growth with Mollak

Saudi Arabia’s Real Estate General Authority has made remarkable progress in property management and digitalization, as evidenced by the success of its Mollak electronic platform. In 2023, the authority registered an impressive 96,967 property units across the Kingdom, covering a total area of over 30 million square meters, following nearly 13,000 requests via the platform.

The capital city Riyadh led the charge with around 29,288 units, followed by Jeddah with approximately 28,278 units, and Makkah with over 7,300 units, indicating robust real estate growth in these key cities.

The Mollak platform, which aids in the management of properties with shared ownership, recorded a significant achievement by registering over 1 million activities and services in 2023. This tool is instrumental in forming owners’ associations to manage communal areas and facilities, enhancing the culture of community living.

In total, the platform managed various activities for more than 126,000 members across 36,000 owners’ associations, covering over 160,000 units. It saw the addition of 28,000 new members and about 9,100 owners’ associations in 2023 alone.

Additionally, the Real Estate General Authority has successfully integrated its services with the Ministry of Human Resources and Social Development, issuing over 470 unified national numbers, simplifying legal and administrative processes for these associations.

Moreover, the Mollak platform has been pivotal in financial management for these entities, aiding in bank transactions and contracts with property managers.

In another significant milestone, Saudi Arabia’s property rental service, Ejar, has recorded over 8 million lease contracts since its inception in February 2018. These include 6.6 million residential and 1.3 million commercial leases through the electronic rental service network linked to the Sakani platform. In 2023, a record year, Ejar documented more than 2.8 million contracts, with the highest daily documentation rate peaking at 18,000 contracts.

Also Read:

Expanding Global Film Narratives: The Lodge Welcomes Asia in 2024

Expert Advice on Managing Mortgage Debts in Challenging Times

ShareTweetSend
Next Post
sharjah

NYE in Sharjah: Residents Plan Low-Key Celebrations Amid Fireworks Ban

No Result
View All Result

Latest Posts

Mridula Singh
INTERVIEW

Pioneering Real Estate & Technology with Purpose: An Exclusive Interview with Mridula Singh

by Editor
July 8, 2025
0

Interview with Mridula Singh By The Emirates Times Editorial Desk In a region driven by innovation, few leaders exemplify the...

Read more
accounting service in UAE

Accounting Service in UAE: A Strategic Asset for Business Owners

July 5, 2025
executive coaching

Why Executive Coaching Is Essential for Modern-day CEOs

July 1, 2025
AMPSZ Consulting

Serial Entrepreneur Samuel Zekri Announces Full Exit from AMPSZ Consulting FZCO in Dubai to Focus on Larger, Consolidated Ventures

June 27, 2025
Dubai crypto exchange

Best Crypto Exchanges in Dubai and the UAE for 2025: A Comprehensive Guide

June 27, 2025

Follow Us

The Emirates Times

– Make It Happen
The Emirates Times is an English Language Internet media with a significant focus on business, technology, news, entrepreneurship, leadership, innovation, prominent business personalities, and many more, majorly in the GCC region. Further, the company publishes interviews, news, business content, press releases, etc. This platform also publishes about real estate, sports, metaverse, business ideas, and more.
Linkedin Twitter Facebook Tumblr

Important links

  • HOME
  • INTERVIEW
  • UAE
  • GULF NEWS
  • TECHNOLOGY
  • LIFESTYLE
  • METAVERSE

Contact Us

  • sales@theemiratestimes.com
  • +91-70-6556-6556

© 2024 theemiratestimes