Big Increase Commercial Lease Contracts, Registration on Rental Network services

Ejar program revealed an increase in the number of commercial lease contracts, registered on the electronic network of rental services, during the current Year 2021, exceeding 200,000 commercial lease contracts, an increase of 44% compared to last year 2020, from the beginning of the year until last October.

The program explained that the increasing demand for the services of the rental network, comes as a result of the program’s continuous efforts to develop and renew services and new strategic partnerships, the latest of which was linking with the National Water Company, which enables the beneficiaries of the network to transfer the water meter account, to the actual user name of the real estate unit, registered in the rental program.

He pointed out that the rate of increase in commercial rental contracts exceeded 44% compared to the same period last year, and the commercial contract represents a qualitative addition to the field of contracts in the real estate rental sector, because of the advantages it provides in scheduling and flexibility of payments, the possibility of registering it as a conditional contract, and amending the commercial activity after  concluding of the contract, and other powers and benefits enjoyed by the tenant.

The commercial lease contract offers a number of advantages, including the possibility of building it, activating the terms of the contract, and identifying the party bound by it in an easy electronic way.

In addition to its advantage as a contract that is treated as an executive bond with the judicial authorities, and its flexibility and suitability to the nature of commercial activities and their requirements, and contracts coverage for a wide range of real estate and commercial units.

It includes: towers, commercial complexes, buildings, exhibitions, warehouses, kiosks, shops, offices, and others.

The Ejar program aims to organize and stimulate investment in the real estate market, enhance transparency in rental transactions between all parties and enable beneficiaries to view the data provided via the network, to preserve the rights of the parties to the rental process (the lessee, the lessor, and the real estate broker) through standardized and recognized electronic rental contracts, documenting contracts, registering real estate unit data on the network, and activating their use as executive bonds.