The Real Estate General Authority (REGA) announced that the number of lease contracts documented through the “Ejar” platform has exceeded 8 million contracts since its launch. Of these, residential lease contracts account for more than 6.6 million, while commercial lease contracts have surpassed 1.3 million. The year 2023 marked the highest volume of documentation to date, with over 2.8 million lease contracts documented, and the platform recorded a peak daily documentation rate of 18,000 contracts in a single day.
REGA confirmed that these continuously increasing figures reflect the growing confidence in the Ejar platform and the value-added services it provides, which contribute to enhancing the reliability of real estate transactions in the Kingdom of Saudi Arabia. The platform offers a high level of transparency for all parties involved in real estate rental transactions—tenants, lessors, and real estate brokers—through several integrated features. These include: verification of documents and deeds, contract parties' data in integration with partner government entities, dealing with real estate brokers licensed by the Real Estate General Authority, documenting contracts through digital channels and approving them with the Ministry of Justice, rental index, using electronic payment channels in Ejar "Mada" and "SADAD" to document and prove financial payments, and integration with real estate platforms, facilitating the rental journey and preserving parties' rights before and during the rental process.
On another note, REGA confirmed that the "Ejar" platform has enabled dealers to benefit from a range of quality features that enhance trust between parties and improve transaction efficiency. These include the rental index, handover and delivery documentation, preservation of security deposits, rental behavior assessments, the option for partial payment settlements, various payment frequencies (annual, semi-annual, quarterly, and monthly), and strategic partnerships with service providers that allow the transfer of services to the actual user of the rental unit. These features contribute to enriching the real estate rental sector, encouraging investment, and safeguarding the rights of all parties involved in the rental process.
It is also noted that "Ejar" continuously works to meet the evolving needs of the rental sector in both residential and commercial segments, while ensuring the protection of parties’ rights, enhancing transaction efficiency, streamlining procedures, and establishing strategic partnerships and digital integrations with both government and private sector entities.