The Ministry of Housing will start today, Sunday, February 23, 2020, the launch of the unified lease contract for the commercial real estate sector, in cooperation with several government agencies, including the Ministry of Justice, Trade and Investment, in the presence of a number of ministers and officials from these agencies, after completing the optional period launched by the Ministry last year as a first phase. As of today, it will be mandatory for commercial sectors to document their rental contracts through the electronic network “Ejar”. (Ejar Contract)
40KRegistered Commercial Units
Ejar Network During the trial period, more than 40 thousand commercial units were registered in the program, while the number of rental units registered in the electronic network for rental services, amounted to about 700 thousand registered units, which varied between commercial and residential.
The new lease contract includes includes the advantage of calculating the rental value through a percentage of profits rather than a fixed financial value The move comes after a number of people in the commercial sector demanded it. as one of the commercial methods currently used in the market.
14K real estate brokerage establishments
The number of real estate establishments "brokers" registered in the Ejar network reached about 14 thousand real estate establishments, pointing out that the network seeks to provide all the needs of real estate brokerage establishments, with the aim of facilitating their work, developing their services, raising their efficiency and enhancing their contribution to the local product, in addition to localizing work in the sector and creating new and appropriate job opportunities.
The Ministry of Housing represented in the "Ejar Program" has confirmed that the registration of rental units is still increasing,“ noting that this reflects the confidence of customers in the network and attracting them to benefit from its services.
Ministry of Housing represented in the ”Ejar Program” has confirmed that the registration of rental units continues to increase.
Containing all contracts Rental contracts
Ejar is working to to contain all rental contracts in the Kingdom within the electronic network of rental services, with the aim of organizing the real estate rental sector and preserving the rights of all parties to the rental process. In order to regulate the real estate rental sector and preserve the rights of all parties to the rental process, in addition to The unified contract for the commercial real estate sector includes a number of additional advantages over the The unified contract for the commercial real estate sector includes a number of additional advantages over the residential contract in line with the nature of the commercial sector. such as sub-letting and changing the commercial register or activity after updating the data in the system. system.
Documenting rent from the Ministry of Justice
The program enables individual citizens, commercial establishments or associations that have a commercial register to document standardized electronic leases, approved by the Ministry of Justice, throughout the Kingdom through the services provided by approved real estate brokerage establishments. It is known that the "Ejar" program has effectively contributed to the reduction of rent default cases, because the network includes a unified contract that is an executive document, which narrows the opportunity for procrastinators to fulfill their financial obligations.
The program enables individuals, commercial establishments or associations with a commercial record to document standardized electronic contracts, approved by the Ministry of Justice, throughout the Kingdom through the services of approved real estate brokerage facilities.
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