The Rental Index on the Sakani platform recorded a decrease in average rental values for residential apartments in 24 neighborhoods in Riyadh, ranging between 1% to 46% for rental transactions in September compared to rental transactions in August. This was among 66 neighborhoods that recorded 200 or more rental transactions on residential apartments, covering over 38,000 residential apartment rental transactions in Riyadh neighborhoods during September.

The neighborhoods Al-Murabba, Al-Hamra, King Faisal, Ghubairah, As-Sahafah, and Al-Amal recorded the highest decrease in average rental values, exceeding 20%, while the remaining 42 neighborhoods recorded stability in average residential apartment rental values or an increase reaching 11%. The top three neighborhoods recording the most residential apartment rental transactions were Dhahrat Laban, Al-Wurud, and Tuwaiq.

Ejar had added a package of improvements to the Rental Index on the Sakani platform, including comparison between average rental values for units in a group of neighborhoods, identifying price ranges for residential units, and searching for neighborhoods containing residential units within a price range determined by the beneficiary. Users can view the number of rental transactions on residential and commercial units in a specific neighborhood during a specified period, average rental values, clarify the price range for residential transactions, and view them through charts. They can also access the list of accredited real estate brokers in the neighborhood, in addition to the "comparison" feature that enables beneficiaries to compare average rental values for residential units in more than one neighborhood in a single city, determine their locations and view them through maps, and review results through charts, and the "smart search" feature that allows beneficiaries to determine the required price range for residential units in a specific city, through which they can view neighborhoods and their locations within the price range specified by the beneficiary, within the framework of supporting beneficiaries and contributing to raising market efficiency in line with the goals of the Housing Program - one of the Kingdom's Vision 2030 programs.

It is worth noting that the Rental Index aims to achieve transparency and encourage investment in the Kingdom's rental real estate sector by establishing accurate rental indicators for cities, neighborhoods, and various property types, both residential (apartment, villa, floor) and commercial (shop, showroom, office), across over 16 cities covering all regions of the Kingdom. The service is accessible through the Sakani platform at: https://sakani.sa/reports-and-data

The Electronic Rental Services Network "Ejar" signed 12 digital integration agreements with several real estate platforms today, under the patronage of His Excellency the Minister of Municipal, Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority (REGA), Majed bin Abdullah Al-Hogail, and in the presence of His Excellency the Governor of the Digital Government Authority, Engineer Ahmed bin Mohammed Al-Suwaian, at the headquarters of the Real Estate General Authority.

The agreements signed between the Ejar network and platforms (Aqar, Simat, Real Estate Knowledge Network, Majziyah, Wazi, Al-Rasis, Nufooth Development, Hectare, Dallali, Asas, Aqarz, Atar Cloud) licensed by the Real Estate General Authority aim to facilitate beneficiaries' journey in searching for rental units and registering electronic rental contracts through real estate platforms. The Authority was represented in the signing by the Head of the Solutions Sector at the National Housing Company, Engineer Ryan bin Abdullah Al-Aql.

The Chief Executive Officer of the Real Estate General Authority, Engineer Abdullah bin Saud Al-Hammad, confirmed that the Authority is working through these strategic partnerships with the private sector to activate its supervisory role over the non-governmental real estate sector, raise confidence levels, and enhance its attractiveness. He pointed out that this integration supports investors in the digital real estate solutions sector, strengthens partnerships with the private sector, achieves beneficiaries' requirements, increases satisfaction, and contributes to enhancing confidence in rental market offerings.

Engineer Ryan Al-Aql stated that this integration will enable real estate platform clients—including real estate brokers, landlords, and tenants—to register contracts and view their status through electronic linkage between Ejar and real estate platforms, thereby facilitating rental activity operations in the real estate sector and opening new channels for offering and providing real estate services to the rental market.

It is worth noting that the Real Estate General Authority provides the option for applications and websites marketing real estate advertisements to obtain licenses for electronic real estate platforms for advertising real estate listings through Aqari services on the Authority’s website: rega.gov.sa.