• Sale agents can list their auctions assigned by Infath on the platform to facilitate the process of selling fixed assets 
  • Wasalt provides real-time bidding and direct award services 

Saudi Arabia: Wasalt, a revolutionary real-estate online platform specialising in connecting buyers with sellers (brokers and landlords), today announced that it has acquired a license from the Entrustment and Liquidation Center (Infath) to organise and manage electronic and hybrid auctions. This collaboration further underscores the company's commitment to providing best-in-class digital services to enhance transparency and improve offerings in the Saudi real estate market.

Licensed by REGA, the General Real Estate Authority in the Kingdom, Wasalt is a dynamic platform that provides a comprehensive range of online real estate services to ensure that users can benefit from convenient and unique experiences while advertising and searching for properties to buy, sell, or rent.

Under the new collaboration, the sales agents at Infath will now be able to list their auctions on the Wasalt platform and seamlessly carry out asset liquidation operations. This involves facilitating the process of selling fixed assets, in addition to holding auctions, engaging in marketing, and advertising as required by the sales process. 

Commenting on the accomplishment, Ziad El Chaar, Vice Chairman of the Board of Directors at Wasalt, said: “Wasalt is more than just an ordinary platform. It is managed by a group of pioneers in the technology sector who are committed to continuous innovation at every stage of our growth. The idea is to remain at the forefront of the real estate auction sector with leading technology solutions that provide customers with the best possible experience. 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." 

The platform provides real-time bidding services, enabling immediate and direct decision-making regarding asset awarding, thereby creating a unique auction experience. It also offers a smooth process for charging the electronic wallet in a safe manner and paying the deposit to participate in each auction. Users can also benefit from specialised support including guidance and counsel through every stage of the purchasing journey.

In addition to real estate auctions, Wasalt features an exclusive range of properties for sale or rent across the Kingdom of Saudi Arabia. All offers that are listed by licensed owners and real estate brokers on the platform are subject to monitoring by a team of distinguished experts who verify their quality and reliability before approval. 

Wasalt enjoys a strong reputation in the real estate market. It is well known as a comprehensive and integrated platform that provides a wide range of innovative services such as listing, searching, purchasing, renting, and marketing properties. Besides helping property seekers or investors find their dream properties from brokers or developers, it also provides customers with various digital solutions to assist them in their daily activities. 

About Infath

Entrustment and Liquidation Center (Infath) is an independent governmental center, seeking to build cooperation between the judicial and governmental entities in areas of liquidations, sales, and other assets that are not subjected to a current legal dispute. We process liquidation through commissioning and supervising specialized entities from the private sector. We aim at contributing to preserving assets’ values, speeding up the process of rights fulfillment, and achieving judicial and economic value.

The Center was established to keep pace with the current Saudi development in the legal and economic structures. One of its main objectives is to become the primary and specialized hub of expertise in liquidations and sales activities.

Infath contributes to stimulating the local economy by providing numerous and fair opportunities to entrepreneurs, and service providers in particular, as Infath represents one of National Transformation Program 2020 initiatives that enhances the government performance and judicial efficiency, in accordance with Saudi Vision 2030.

Infath aims at resolving one of the key current challenges of the judicial authorities, represented in the lack of a technical supervisory body specialized in liquidations and sales activities, which enforces judicial enforcement of Saudi Arabia. This lack has led to delayed enforcement of judgments and rights of beneficiaries, as well as affecting the value of assets.

About Wasalt 

Wasalt is the fastest growing properties platform in Saudi Arabia, that exclusively offers diverse products and features to meet the real estate market needs.

Wasalt works on connecting real estate seekers and sellers with an all-around service that includes buying, selling, leasing, auctions, and much more. Wasalt, in less than 2 years, has grown to have more than 500,000 unique visitors and app users who are purely looking at advertising real estate and more than 3,300 partnerships with brokers, developers, and banks.

For media enquiries, please contact:
ASDA'A BCW
Atrayee Roy Choudhury I Reem Al Tajer
atrayee.choudhury@bcw-global.com I Reem.Tajer@bcw-global.com
www.asdaa-bcw.com | www.arabyouthsurvey.com