Riyadh-Amlak
Last week, the Ministry of Housing launched the electronic platform for the “Ejar” project, so that real estate offices can begin registering and entering residential units prepared for rent, to be available for viewing to the rest of the parties involved in the rental process, including tenants, owners, and real estate brokers, so that everyone can benefit from the advantages and services provided by “Ejar”.
Through “Ejar”, the Ministry aims to find comprehensive solutions for the rental housing sector and regulate it, based on the regulatory role that the Ministry plays, which is included in the National Housing Strategy.
Minister of Housing, Dr. Shuwaish Al-Dhuwaihi, said that the electronic platform “Ejar” will contribute to creating a balance between supply and demand by increasing trust between the parties involved in the rental process, which will positively impact the private sector’s incentive to invest in the housing units sector intended for rental purposes, thus providing more rental housing units and achieving fair and appropriate prices for tenants.
He added that the rental sector needs to be regulated and organized according to a legal mechanism that can be achieved through the «Ejar» project, which will have an active role in regulating the rental housing sector in a way that preserves the rights of the tenant, the real estate broker and the owner, through the integrated electronic services system it contains.
Dr. Al-Dhuwaihi explained that this is another project, and it is a complement to regulating the rental market, and this is not a substitute for the other, because at the present time it is necessary to regulate the rental market, as well as to encourage investors to invest in this project, expecting it to be popular with real estate offices.
He added: «The Ministry of Housing, through the operation of this project and this site, will later provide you with the number of real estate offices that participated and used this site,» noting that the «Ejar» site is the result of coordination with a number of government agencies that he described as “partners for housing,” namely the Ministries of Interior, Justice, Commerce and Industry, Finance and Justice.
It aims to regulate and develop the rental housing sector in the Kingdom in an automated way through its electronic platform, and it also helps the tenant to obtain the housing unit he needs in the easiest ways and at the best prices.
It is worth noting that the National Rental Services Network project, "Ejar," was implemented in several real estate offices during its pilot phase prior to its official launch. It aims to regulate and develop the rental housing sector in the Kingdom through its dedicated electronic platform, and helps tenants find the housing unit they need in the easiest way and at the best prices.
