The Ministry of Housing is consulting with a panel of experts and relevant government agencies regarding the drafting of the program’s regulations and a number of specific requirements for registering real estate brokers with the program, to be submitted to the highest authorities for approval.

An official source at the Ministry of Housing clarified this, noting that the draft requirements for registering real estate brokers include the necessity of obtaining a professional license from the Ministry of Commerce and Investment and submitting all data pertaining to the properties being brokered.

The source added that the program will be launched in two phases: the first phase, involving the registration and qualification of real estate brokers to join the network, will begin in early 2017; and the second phase, involving the electronic registration of lease agreements through the network, will begin by the end of the first quarter of 2016.

It should be noted that the “Ijar” system governs the relationship between the landlord and the tenant by documenting the lease agreement, and connects real estate offices in the Kingdom to a dedicated technical network that provides information on tenants and their credit history regarding rent payments and delinquencies, as well as payment schedules—whether monthly, semi-annual, or annual—along with six other services.

Through its online platform, “Ijar” provides a standardized, notarized lease agreement that is mutually agreed upon by the landlord and tenant to facilitate the conclusion and notarization of the contract; its wording can be updated to ensure that the model electronic lease agreement is enforceable in court.