Real estate data bank platform (Aqari) launched

SDGs Bahrain News
Real estate data bank platform (Aqari) launched

Manama, Dec. 26 (BNA): His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, today deputised Shaikh Khalid bin Abdulla Al Khalifa, the Deputy Prime Minister, to inaugurate the real estate data bank platform (Aqari Data Bank), which is among the e-services launched by the Real Estate Regulatory Authority (RERA).

Shaikh Salman bin Abdulla Al Khalifa, Survey and Land Registration Bureau (SLRB) President, and Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, in addition to several ministers, officials and heads of real estate development companies, attended the launch ceremony of the Aqari Data Bank platform.

On the occasion, the Deputy Premier said that the launch of the Aqari Data Bank, which is an integrated platform that provides real estate dealers with all necessary information about the sector, embodies the Kingdom’s interest in developing systems, as well as adopting modern technologies and artificial intelligence, commensurate with the goals of the comprehensive development process, led by His Majesty King Hamad bin Isa al Khalifa, and backed by HRH the Crown Prince and Prime Minister, contributing to harnessing digital development to improving the quality and efficiency of government services.

Shaikh Khalid bin Abdulla indicated that the "Aqari" platform is as an innovative service that reflects the foundations of good governance on which the government work is based, as it aims to strengthen integration among government agencies and enhance strategic planning, noting that the platform is part of the RERA’s digital transformation efforts, carried out in parallel with its endeavours to achieve the objectives of the National Real Estate Sector Plan (2021-2024) towards a sustainable real estate sector that contributes positively to other economic sectors.

The Deputy Premier stressed the need to continue developing the real estate sector to ensure that it always meets the standards of the best international practices, given the sector's major role in supporting the national economy and contributing to the kingdom's non-oil GDP. He also underlined the importance of integrating advanced technologies and availing of their advantages and characteristics to serve customers, and facilitate their experience in accordance with the principles of disclosure, clarity and transparency that enhance their confidence, enable them to make sound decisions based on realistic and accurate facts, and provide a sustainable environment that encourages local and foreign investment with all flexibility.

Shaikh Khalid bin Abdulla paid tribute to RERA's Board of Directors and executive management, as well as those in charge of the "Aqari" platform for the efforts they had exerted to complete such a national trustworthy source of real estate information, wishing the real estate sector's affiliates further success in enhancing the kingdom's status as an attractive and secure environment for real estate investments.

SLRB President extended sincere thanks and gratitude to HRH the Crown Prince and Prime Minister for supporting the launch ceremony of the Aqari Data Bank platform. He also expressed similar thanks to Shaikh Khalid bin Abdulla for attending the event on behalf of HRH the Crown Prince and Prime Minister.

He affirmed that Bahrain is a leader in using advanced technology to deliver the best government services in accordance with global standards and innovative methods, in line with the visions of HM King Hamad and the directives of HRH the Crown Prince and Prime Minister.

He pointed out that the launch of the first phase of the "Aqari" platform is an advanced step towards achieving more digital transformation in the real estate sector, adding that it is a new stage of real estate work based on scientific professionalism, by providing comprehensive, accurate and transparent data and information to all investors, to oensure equal opportunities for them.

He asserted that the first-of-its-kind platform was created to meet the needs of customers in this sector and provide them with information with complete transparency and accuracy, in a way that improves the success rates of real estate projects, increasing their financial returns, and reducing the level of risks in them.

Shaikh Mohammed bin Khalifa Al Khalifa, RERA Chief Executive Officer, indicated that the "Aqari" platform provides a unique real estate experience that reflects the advanced level reached by the sector thanks to HM the King's visions.

He added that "Aqari" provides accurate, credible and updated information about the real estate sector, which serves the real estate community to the fullest.

He affirmed that HRH the Crown Prince and Prime Minister's patronage of the launch ceremony, and the attendance of the Deputy Premier on HRH's behalf reflect the government's keenness on adopting digital transformation in government services and using modern technology to serve real estate dealers.

He pointed out that the project contributes to establishing an integrated real estate data environment for 12 government agencies in a unified digital platform that aims to create a reliable and central national source for real estate information, becoming a primary destination for all real estate dealers in all transparency to make sound decisions. He also indicated that artificial intelligence has been employed to provide the best and accurate real estate digital experience in conjunction with modern technological development.

The Aqari Data Bank is a real estate one stop shop that provides a unique experience for its users, as it includes detailed real estate information, such as real estate deals, building permits, as well as built and unbuilt properties. It also provides comprehensive information about off-plan sales projects, vacant and rented flats, in addition to areas owned by non-Bahrainis, among other information.