Regulatory Alerts2023-05-14
In-kind Real Estate Registration
The Saudi Central Bank issued this circular to require all financing entities operating in the Kingdom to adopt the title registration certificate from the General Authority for Real Estate as the approved ownership document for properties within the designated initial area of Al Falah District, Riyadh. This mandate operationalizes the In-kind Real Estate Registration System by compelling financing entities to rely exclusively on the General Authority's registration certificates for ownership claims in the specified zone. Financing entities bear the ongoing responsibility of continuously monitoring General Authority announcements to ensure strict compliance with the updated real estate register mechanism.
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