In a landmark move for Saudi Arabia’s real estate technology sector, Madak has signed a strategic cooperation agreement with the official Real Estate Registry. The partnership, announced during the Cityscape exhibition, was sponsored by H.E. Majed bin Abdullah Al-Hogail, the Minister of Municipal and Rural Affairs and Housing, and is supported by the General Authority for Real Estate’s regulatory sandbox.
This collaboration marks the official launch of the fractional real estate ownership model in the Kingdom, positioning Madak as the first digital platform to offer this service under the direct regulatory supervision of the General Authority for Real Estate.
Pioneering Fractional Ownership in the Kingdom
The agreement enables Madak to introduce a new, more accessible way for individuals to invest in the property market. The partnership aims to fully automate the real estate ownership and investment journey, simplifying procedures and reducing complexities for investors.
By formalizing the fractional ownership model, the initiative is set to enhance transparency and reliability through the official and unified registration of assets. This step also activates solutions for real estate asset tokenization, improving data quality and security across the board.
Seamless Integration with National Registry
A core component of the partnership is the direct technical integration between Madak’s platform and the Real Estate Registry. This integration will provide a comprehensive and secure investment experience for users.
Key features enabled by this collaboration include the electronic registration of property titles, official digital asset management, and the activation of fractional ownership services. This creates a regulated and trusted environment for real estate crowdfunding, aligning with the national directive to digitize the property sector and open new investment horizons for a broader range of individuals.
About Madak
Madak is the first Saudi application to operate on a fractional property ownership model. The company is dedicated to building an integrated digital investment experience that enhances the efficiency of real estate asset registration and supports the evolution of the local market. By offering flexible ownership and investment opportunities, Madak aims to make real estate investment more accessible to the largest possible segment of investors in the Kingdom.
Source: Jawlah
