The National Housing Company revealed a significant growth in rental deals during the past year 2022, as Ejar network recorded residential and commercial rental deals worth more than 75 billion riyals, an increase of more than 80% compared to 2021.

The "Ejar" network

Rental deals are growing

In its annual report, the company said that the number of leasing deals concluded in the network grew by more than 87% with a total of more than 2.3 million leasing deals.

The company said in its annual report that the number of leasing deals concluded in the network grew by more than 87% with a total of more than 2.3 million leasing deals. The report indicated that Riyadh topped the top cities in terms of total rental deals with more than 578 thousand rental deals and a growth rate of more than 57% compared to 2021.

The report indicated that Riyadh topped the top cities in terms of total rental deals with more than 578 thousand rental deals and a growth rate of more than 57% compared to 2021. He pointed out that the growth rate in the number of real estate brokerage offices that carried out the documentation of rental contracts during 2022 exceeded 20% with a total of more than 21 thousand offices.

According to the report, the total number of transactions in 2022 grew by more than 87% compared to the number of transactions recorded in AAC 2021 with a total of more than 2.3 million transactions.

According to the report, the total number of transactions in 2022 grew by more than 87% compared to the number of transactions recorded in AAC 2021.

Deals 1.8 million residential deals

residential transactions led the growth with more than 89% and total transactions of more than 1.8 million, while commercial transactions grew by 80% and total transactions of more than 470,000.

Apartments topped the list in terms of growth rate and total transactions executed, as their growth rate exceeded 90% compared to 2021, with total transactions exceeding 1.7 million transactions, and residential rental transactions for villas grew by more than 50%.

Residential rental transactions for villas grew by more than 50%. The report showed that commercial deals topped the growth rate by more than 88% with a total value of more than 40 billion riyals, and residential deals recorded a growth of 74% with a total value of more than 35 billion riyals.

The report showed that the value of commercial deals grew by more than 88% with a total value of more than 40 billion riyals. The value of residential deals for apartments recorded a growth of 76%, with a total value of more than 29 billion riyals during 2022, floors recorded a growth of more than 51%, with a value of more than 3 billion riyals, while villas recorded a growth of 49%, with a value of more than 2 billion riyals.

The report also showed that the value of residential deals for apartments grew by more than 88%, with a total value of more than 2 billion riyals.