The Ejar program announced significant growth in the number of authenticated rental contracts in the Electronic Rental Services Network during 2020 compared to 2019, with the growth rate for residential and commercial contracts exceeding 112%.
In a press statement issued today, the program explained that contracts authenticated through its electronic network play a key role in safeguarding the rights of all rental process parties, organizing the real estate rental sector, and promoting investment in the market. In 2019, the total number of authenticated residential and commercial rental contracts reached approximately 472,000 contracts, while by the end of 2020, the number of authenticated contracts had surpassed one million. The increase in residential contract authentication reached 95%, while the increase in commercial contract authentication approached 400%.
Ejar attributed this major leap in residential contract authentication to the reliable and flexible services offered by the platform. The program highlighted that all services are continuously developed to meet the needs and expectations of tenants, landlords, and real estate brokers, enabling them to benefit from the platform anytime and anywhere through simple and clear steps.
Additionally, partnerships formed between Ejar and various government entities, facilitated through technical integration between their systems, have contributed to a significant increase in the adoption of rental contract authentication.
The program emphasized its mission to enhance confidence in the real estate rental sector, safeguard the rights of landlords, tenants, and real estate brokers, develop standardized rental contracts tailored to beneficiaries’ needs, improve sector performance, increase its contribution to the national economy, and reduce disputes through authenticated contracts.