Riyadh – Wasalt, an online real estate platform, has secured a licence from the Entrustment and Liquidation Center (infath) to organise and manage both electronic and hybrid auctions.

This collaboration will enable Wasalt to provide its users with a wider range of services and improve the transparency and efficiency of the real estate auction process in Saudi Arabia, according to a press release.

infath is a government entity responsible for the entrustment, liquidation, and auction of assets. Under the new collaboration, Wasalt will be able to list auctions assigned by infath on its platform and facilitate the process of selling fixed assets, along with holding auctions, engaging in marketing, and advertising as required by the sales process.

Vice Chairman at Wasalt, Ziad El Chaar, said: “Today, with this accreditation from infath, Wasalt has further reaffirmed its leadership position, in offering seamless and specialised services, which ultimately results in a dynamic and distinctive auction experience.”

Wasalt platform offers a variety of online services for buying, selling, and renting properties across Saudi Arabia. It is licenced and strives to provide its users with a convenient and unique action experience.

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