Rent Program that the commercial rental sector has achieved record figures by registering more than one million commercial lease agreements on the electronic rental services network since its inception, revealing that nearly 500,000 commercial lease agreements were registered over the past 12 months, and noting that these figures were achieved thanks to the services and benefits provided by the Ejar network to users in the commercial real estate leasing sector.
“Ejar” affirmed that it constantly strives to accommodate the requirements and evolving nature of the commercial rental sector and to register all commercial lease agreements—both standardized and non-standardized— thereby safeguarding the rights of the parties, improving the efficiency of transactions in the Kingdom’s real estate rental sector, increasing confidence in financial and contractual dealings, and streamlining procedures by providing multiple payment options, and various payment channels, in addition to the other quality services provided by “Ejar.”
Ejar Network offers a number of features for the commercial rental sector, including digital integration with entities in the public and private sectors—such as the Ministry of Justice, the Ministry of Human Resources and Social Development, the Ministry of Commerce, and the Ministry of Investment— and integration with the Baladi platform.
The commercial lease agreement on “Ejar” provides a number of important benefits for the commercial real estate sector, such as conditional leases, flexibility in drafting terms and obligations, greater rights for tenants, retroactive registration of commercial lease agreements, value-added tax calculations, flexible payment terms and a variety of payment methods, and a wide range of property types (shopping centers, stores, kiosks, warehouses), among others.
“Ejar” has added numerous features that have attracted users in the real estate rental sector, such as the rental index, move-in and move-out procedures, rental behavior, electronic contract notarization directly online, and a variety of payment channels for rent, including: “Mada” and ”SADAD,” and credit top-ups. It has also enabled users to make partial payments, in addition to strategic partnerships with other entities that allow services to be transferred in the name of the actual user of the rental unit.
