His Excellency Professor Majed bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing, launched the “Rental Index” service on the Sakani platform, integrated with the Electronic Rental Services Network. The initiative aims to enhance transparency and organization in the residential and commercial rental sector. The announcement took place on the sidelines of the Riyadh Restatex 2022 Exhibition.

The “Rental Index” aims to improve the efficiency and transparency of the Kingdom’s real estate rental sector by establishing indicators to measure the average rental prices of residential units and the average square meter prices of commercial units. This is based on rental contract data authenticated through the Ejar network.

The service enables beneficiaries to access the Residential Rental Index to identify average rental prices for various types of residential units, including apartments, villas, and floors, as well as the Commercial Rental Index for average square meter prices of commercial units such as shops, showrooms, and offices. These features provide users with more precise results during their search and selection processes.

The first phase of the service launch covers six cities: Riyadh, Jeddah, Makkah, Dammam, Khobar, and Madinah. It will display average rental prices for residential units in neighborhoods within these cities and provide average square meter prices for commercial units, thereby increasing transparency in rental prices and transactions across the sector.

The service also provides insights into the price range averages and transaction volumes of rental contracts dating back to 2019, with regular updates. This is based on commercial and residential contracts authenticated through the Ejar network in cities and neighborhoods included in the service, offering detailed information on fluctuations in rental values and transaction volumes during the period specified by the user.

It is noteworthy that this service builds on a series of services introduced by the Ejar network to enhance and develop the rental sector in the Kingdom. These efforts aim to meet the needs of citizens and beneficiaries while strengthening the network’s organizational role. Beneficiaries can explore the service and its features through the Sakani platform by visiting the “Reports and Data” page: https://sakani.sa/reports-and-data.