“Restatex Jeddah Real Estate” deals with immediate accretion, real estate brokers, valuation and the impact of the rental network

The “Restatex Jeddah Real Estate” exhibition, during its workshops held today, has the immediate maturity and mechanism of real estate development, real estate brokers, its ethics, the legal and legal responsibility of brokers, and the impact of the Ejar network on the property rental market.

The first workshop was titled “The Ownership Journey”, in which the Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for Empowerment of Beneficiaries and Housing Support, Ayman Mohammed Saleh, and Vice President of the Financing Solutions Group at the Real Estate Development Fund, Walid bin Zaid Al-Nazhan, participated.

The speakers discussed various axes, including immediate entitlement, the property development mechanism, products and beneficiaries’ segments, housing packages and support, the Sakani platform and Sakani electronic services, indicating that the percentage of ownership in the Kingdom has reached 60%, and that one of the objectives of the Kingdom’s Vision 2030 is that the percentage of ownership reaches 70%, It is through the Ministry of 4 pillars to target to achieve: financing, housing support, display support, regulations and legislation, electronic platforms and advanced digital solutions.

They indicated that in the past 20,000 families were served per year, and with the Kingdom’s vision 2030 and the ministry’s strategy, the service was provided to almost 20,000 families within one month, as the number of beneficiaries exceeded 1,600,000.

They pointed out that the sakani program aims to facilitate the procedures to enable the Saudi family to own its first home by providing a set of housing solutions and options that meet the needs of the beneficiaries and residential ground fit.

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The participants touched on the suburbs established by the ministry, including Al-Jawan suburb, which has more than 73,000 residential units, Al-Wahha suburb with more than 19,000 units, Al-Mayar suburb, consisting of 17 000 residential units, Al-Jawhara, which has more than 6 thousand units, and Al-Saddam It consists of 6,510 units, Al-Dar suburb, consisting of 6,831 residential units, and Al-Khayala suburb, which has 3,412 units have. The Ministry offers its residents an attractive living environment, integrated facilities and services, competitive prices, and various building models and designs.

The participants drew attention to the achievements achieved by Sakani and the most prominent points of digital transformation, including immediate entitlement, financing recommendations, waiver of support between spouses, selection of residential products, review and discussion of residential projects, review and signing of the contract for residential lands, electronic financing, with the first house tax, and the real estate market Engineering designs, issuance of building permits, approved contractors list, engineering supervision list, interior design of houses, documentation and review of the lease, and Sakani reports.

The second workshop, entitled “An Introduction to Real Estate Brokerage”, provided an introduction to real estate brokerage, aimed at developing participants’ skills in contracting using the rental system for renting residential and commercial units with high efficiency.

The workshop covered several axes, including the professional ethics of the real estate broker, as it helps to protect the client in real estate exchanges against the sale, rental or management of properties, the legal and legal responsibility of real estate brokers, and the introduction of the rental. network and the only lease.

The third workshop, entitled “Real Estate Valuation Regulation and Development”, in which the Director of Communications at the Saudi Authority for Accredited Valuers, Saad bin Suleiman Al-Baiz, addressed the authority’s roles in the organization of the valuation profession and set the necessary standards. and legislation, the development of the appraisal profession and raising the level of its employees professionally, technically and ethically, and raising awareness in The raising of the community’s confidence in the appraisal profession in it to the level of prestigious professions, the qualification and accreditation of evaluators to practice the evaluation profession. and monitoring their performance, and enabling professional supervision of members and licensed institutions in accordance with international evaluation standards.

He explained that no person with natural or legal capacity has the right to practice the evaluation profession in any of the evaluation branches unless he is licensed to practice the profession in the same branch, and emphasized the importance of the accredited evaluator, who the basic conditions for the evaluation profession and is a licensed professional work according to international standards, and is independent It is impartial in the evaluation process, and legal responsibility for evaluation reports.

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The fourth and last workshop for this day discussed “the impact of a rental network on the real estate rental market and its relation to the improvement of the investment environment”, indicating that the “Ejar program” in which rental contracts exceed 4.5 million electronic rental contracts has been documented. in the electronic network of rental services, And about 4 million rental transactions recorded by the rental index until the end of September.

He explained that the “Ejar” program is an integrated electronic network that aims to regulate the real estate rental sector in the Kingdom and preserve the rights of the parties to the rental process (the tenant, the landlord and the real estate agent). , and it provides a set of electronic solutions that contribute to the development, regulation and facilitation of the property rental sector, in order to balance the sector and strengthen confidence in it, and contribute to the stimulation of investment in it, by documenting contracts, enable their use as executive bonds, and the preservation of the rights of all parties to the rental process, with standardized electronic contracts approved by the Ministry of Justice; Contributed to reducing conflicts in the property rental sector and increasing its efficiency.

And he indicated that “Ejar” offers electronic options and tools that represent an added value in the real estate sector, including: the electronic receipt and delivery service, the rental behavior service to evaluate the rental experience, the rental index, the contract registration service through real estate platforms, and the contract documentation service through the Sakani platform – recently launched, the landlord or tenant or their representatives could approve the documentation of residential leases registered in “Ejar” as one of the channels for approval of contract documentation – and other services, in addition to joint efforts and joint efforts with a number of regulatory and service agencies, which contributed to the achievement of these numbers, The achievement of the aspirations of the beneficiaries of the rental property sector as a landlord, a tenant, a real estate broker or a investor.

He stated that the residential leases documented in “Ejar” exceeded more than 3.8 million contracts, while the commercial leases amounted to more than 700,000 contracts, and about 4 million lease transactions recorded by the rental index varied between residential and commercial transactions in more than 16 cities covering all regions of the Kingdom; He indicated that such data achieves transparency and stimulates investment in the rental property sector in the Kingdom, pointing out that the service can be accessed on the “sakani” platform via the link: (click here).

He indicated that “Ejar” provides services and works on a continuous basis to develop them; To contribute to the reduction of conflict and the preservation of the rights of the contracting parties, in addition to strategic partnerships with service agencies; To enable the parties to the rental contract to transfer services in the name of the actual beneficiary of the rental unit, in addition to proving financial transactions between the parties to the rental process, through electronic payment, and providing various payment channels for paying rental payments, including: “mada” and “saddad.”

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