Rent: 3 million documented housing contracts until May 2022

The residential lease contracts documented in the electronic network for rental services exceeded 3 million residential lease contracts since the launch of the program until May 2022, which means that 45% of the market size of the occupied residential rental units in the Kingdom are documented with lease contracts, and this reflects the excellence of the services provided by the rental network to parties The rental process, while the number of real estate units whose data was registered in the network exceeded 4.3 million rental units.

In a press release today, on the sidelines of the Maskan Real Estate Exhibition, held in Riyadh during the period from 26 to 29 May, the “Ejar” program confirmed that the development of the network, improving services and adding continuous advantages contributed to increasing the confidence of beneficiaries of the real estate rental sector, which contributed to recording records during the past period. From the number of documented contracts, registered units, or financial transactions that take place through the network.

The program indicated that upgrading the real estate rental sector, raising its efficiency, facilitating its rental operations and procedures, and creating a safe environment in its financial and contractual transactions, is going on permanently and continuously, which contributes to improving the investment environment and reduces risks by preserving the rights of the parties to the rental process, and reducing the duration of litigation on rental contracts. There is a 50% decrease in rent cases in the general courts.

Earlier, “Ejar” had announced the addition of a number of services that resonated in the real estate sector, such as the rental index, receipt and delivery, rental behavior, documenting contracts electronically directly via the network, and providing various payment channels for rental payments, including: “Mada” and “SADAD”. “And charging balances, and enabling the beneficiaries to make partial payments, in addition to having strategic partnerships with other parties, which enable the transfer of services in the name of the actual user of the rental unit.


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