Ejar program announced that June 2022 recorded more than 192,000 authenticated rental contracts in the Electronic Rental Services Network, marking the highest number of authenticated contracts in a single month since the network’s launch in 2018.

In its official press statement, the program explained that residential and commercial contracts authenticated from the beginning of the year until the end of June surpassed 982,000 authenticated contracts, reflecting an increase of 74% compared to the same period last year.

Ejar stated that the rise in authenticated contracts and the growing demand by beneficiaries to authenticate their contracts within the network is attributed to the major development initiatives implemented in June 2021. These included several services and enhancements, such as diversifying electronic payment channels, introducing the rental behavior service, enabling the registration of contractual status, launching the handover and delivery service for rental units via the Sakani platform, linking water bills to rental contracts, and introducing the Rental Index which provides beneficiaries with access to average rental values for both residential and commercial units. These efforts were accompanied by various other services and improvements, including enhancements in contract authentication and renewal, increased payment flexibility, the registration of real estate brokerage establishments, contract management features, and the issuance of receipt vouchers, among other upgrades.

Ejar emphasized that the rental ecosystem it continues to develop, along with the wide range of services offered by the program, has significantly contributed to advancing the real estate rental sector, improving its efficiency, and streamlining rental operations and procedures. These efforts have also played a key role in enhancing the investment environment and reducing risks by safeguarding the rights of all parties involved in rental transactions while meeting their expectations and aspirations.