Over 7,000 New Owners’ Associations Registered in Mullak Program

Mullak Program registered more than 7,000 new associations, in 2021, achieving a growth rate of more than 63% compared to 2020, and bringing the total owners’ associations registered on the electronic platform to 17,000.

The program aims to increase the proportion of Saudi families owning real estate units within housing projects, with joint ownership, to reach a residential ownership rate of 70% by 2030, according to the objectives of the housing program – one of the programs of the Kingdom’s Vision 2030.

In a press statement, Mullak explained that the registered associations have included more than 138,000 real estate units since the launch of the program, so far, stressing its ongoing endeavor to facilitate the procedures for registering, activating and accrediting owners’ associations, addressing the conditions of distressed associations, and facilitating the procedures for owners of jointly owned properties.

The program allows the registration of real estate units under sales contracts, and enables its owners to determine the value of subscriptions, according to the needs of the association, with the aim of organizing and facilitating the communication process between owners associations and service providers..

Mullak program contributes to promoting a culture of coexistence and good use within the real estate of joint ownership, by taking advantage of the electronic services in the owners’ associations and continuing their development and automation by linking with the relevant authorities to facilitate the work of the associations, in addition to enabling investments in the owners’ associations that will reduce the burden on owners in registering Associations and enabling them to conclude deals and investment business according to regulations and instructions, support the real estate system by raising the level of transparency between owners, and increase the reliability of the work carried out in associations. gov.sa