The Electronic Rental Services Network “Ejar” announced that the Rental Index recorded over 162,000 rental transactions during February, according to reports and data issued by the network in collaboration with the Sakani platform. Additionally, six new cities were added to the Rental Index:  Taif, Rabigh, Unaizah, Hafar Al-Batin, Ras Tanura, and Khamis Mushait, bringing the total number of cities covered by the index to 22 cities across all regions of the Kingdom.

In a press statement issued today, the program explained that the February Rental Index report revealed that the number of rental transactions registered exceeded 162,000 deals, comprising over 131,000 residential transactions, while commercial transactions surpassed 30,000 deals across all cities included in the index.

The neighborhoods with the most residential rental transactions in the top five cities were (Dhahrat Laban, Tuwaiq, Al-Wurud) as the top neighborhoods in Riyadh, and (Al-Safa, Al-Salamah, Al-Bawadi) neighborhoods as the top in Jeddah, while (Al-Shouqiyah, Al-Naseem, Al-Mohammadiyah) came in Makkah, while (Al-Noor, Taibah, Al-Rakah Al-Shamaliyah) as the top neighborhoods in Dammam, and (Al-Areed, Al-Zahrah, Al-Ranuna) as the top in Madinah. 

Riyadh also recorded the highest number of commercial rental transactions, surpassing 10,000 deals, followed by Jeddah with over 6,500 commercial rental transactions. Commercial transactions in Madinah reached approximately 2,000 deals, while Dammam recorded over 1,800 commercial deals, and Makkah followed with over 1,600 commercial transactions. It is noteworthy that these commercial deals included a variety of units, such as shops, offices, and commercial centers.

Riyadh topped the February Rental Index report as the city with the highest total number of rental transactions, approaching 52,000 residential and commercial deals, representing 32% of all transactions. Jeddah followed with over 33,900 transactions, then Dammam with more than 10,500 deals, Makkah with over 10,400 deals, and Madinah with around 9,000 deals. The remaining cities collectively recorded approximately 46,000 residential and commercial transactions. The Rental Index can be accessed through the Sakani platform at: https://sakani.sa/reports-and-data.

The National Housing Company also issued the annual rental transactions report for 2022, which revealed significant growth in Rental Index transactions. The full details of the annual rental transactions report are available at: https://rei.sakani.sa/home/GetReport.

The Rental Index is designed to enhance transparency and encourage investment in the Kingdom’s real estate rental sector by establishing precise rental indicators for cities, neighborhoods, and various property types in both residential and commercial sectors. Users can determine price ranges for residential units, search for neighborhoods offering housing units within a beneficiary-defined price range, review the number of rental transactions for residential and commercial properties in a specific area during a given period, explore average rental values, and access charts illustrating price ranges for residential transactions. This initiative supports beneficiaries and contributes to raising market efficiency, in line with the objectives of the Housing Program—one of the key initiatives under Saudi Vision 2030.