The Ejar program announced that the commercial rental sector has set new records 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 documented 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 rental sector.
Registration of all contracts
“Ejar” stated that it constantly strives to accommodate the requirements and changes of the commercial rental sector and to register all commercial lease contracts, both standardized and non-standardized, in a manner that protects the rights of the parties, improves the efficiency of transactions in the Kingdom’s real estate rental sector, increases confidence in financial and contractual dealings, and streamlines procedures by providing multiple payment options, and various payment channels, in addition to other quality services provided by “Ejar.”
Features of the Commercial Rental Sector
The 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.
Additional Benefits
“Ejar” has added numerous features that have attracted users from the real estate rental sector, such as the rental index, move-in and move-out procedures, rental behavior, electronic contract notarization directly online, and various payment channels for rent, including: “Mada” and ”Saddad,” and credit top-ups. It also enabled users to make partial payments, in addition to strategic partnerships with other entities, which allow services to be transferred in the name of the actual user of the rental unit.
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500,000 rental contracts in 12 months
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3.2 million rental units
2.4 million residential units
819,000 commercial units
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Cities with the Most Residential Units
Riyadh: 470,000 units
Jeddah: 358,000 units
Dammam: 113,000 units
Mecca: 94,000 units
Medina: 78,000 units
