Simaat, the largest real estate property management platform in Saudi Arabia, has signed a technical linkage agreement with Ejar (rent), a comprehensive system launched by the Saudi housing ministry in line with its efforts to develop the kingdom's residential market.
The agreement was signed in the presence of Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al Hogail, Digital Government Authority Governor Engineer Ahmed bin Muhammad Al Suwayan and senior government officials and other key stakeholders.
The integration of Simaat platform with Ejar network will help boost efficiency by simplifying documentation procedures.
It has come to allow property management companies to save time to add operations, document the contract, and reduce the user experience period from 15 minutes on average to less than one minute.
"The signing of this agreement comes in line with digital transformation, one of the main pillars of the Kingdom's Vision 2030, which was announced by HRH Crown Prince Mohammed bin Salman, to unleash the creative energies of Saudis in various fields," remarked Dhaifallah Al Hassani, the CEO of Simaat platform.
"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," he added.
Executive Vice President Sami Al Sharekh 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 SR2.5 billion and it is the only platform specialized in real estate endowments."
"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 added.
Al Sharekh pointed out that the Simaat platform is linked and integrated with various government agencies such as the Ministry of Justice, the Ministry of Commerce, Sadad and Mada.
It provides innovative real estate technology solutions to automate operations in companies and real estate offices, which in turn transforms their work into paperless offices, he stated.
"This is also our contribution to preserving the environment, as these solutions contributed to reducing operating costs by 49% and also accelerated the companies’ business 300%, which is a qualitative precedent in this field," he added.
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