The Housing Ministry has launched an advanced electronic platform to streamline renting services, which analysts said would help reduce rents by providing tenants with different options.
Housing Minister Shuwaish Al-Dhowaihi said the Ejar platform offers complete and integrated solutions to the commercial housing sector.
It makes renting much easier than before as it brings all parties involved to a single platform, he said.
Ejar will help increase market confidence by trying to bridge the gap between demand and supply.
He hoped Ejar would encourage realtors to invest more in the housing sector and help bring down prices to reasonable levels.
The ministry is now implementing 137 low-cost housing projects across the Kingdom as part of a strategic scheme to build 500,000 units at a cost of SR250 billion. Some of these projects are in the final stages, Al-Dhowaihi said.
The housing units will be distributed among deserving citizens under a transparent scheme, he said.
The Ejar platform facilitates the process of looking for a housing unit or displaying one as an original party or as a mediator.
This helps build an advanced database, adding value to its frequent users.
This network regulates the relationship between the concerned parties and preserves their rights due to the very high technical standards, the ministry said.
Akbar Batcha, a senior business executive, welcomed the move, saying it would save time and energy of prospective tenants hunting for residential properties.
The government will be the biggest beneficiary as it would help them enlist real estate properties, Batcha told Arab News.
It may reduce brokerage if tenants want to deal with owners directly, he said.
Looking for a house is a tiresome job. Tenants usually visit many sites to inspect residential facilities and negotiate prices but often end up in a deal compromising their choices.
But Ejar elevates the leasing process to a totally new level due to the multiple benefits contained within the network.
