Saudi Gazette report

RIYADH — The CEO of the Real Estate General Authority (REGA), Abdullah Al-Hammad, stressed that any rental contract or transaction outside the Ejar platform is not legally recognized.

Speaking at a government press conference on real estate balance on Monday, Al-Hammad said documenting contracts on the platform ensures compliance with regulations and protects the rights of all parties, marking “a new phase of real estate balance” that secures fairness in landlord-tenant relations and supports a stable investment environment.

He revealed that Riyadh’s real estate market includes more than 1.1 million units — 838,000 residential and 332,000 commercial — owned by about 200,000 individuals and companies.

Of these, 84 percent own residential units, with the largest single owner holding 3,200 units, or 0.4 percent of the total.

For commercial properties, 16 percent are owners, with the largest holding 2,600 units, equal to just 1 percent of the total.

Data for 2025 shows that 50 percent of owners have only one rental unit, 19 percent own two, and just 7 percent control more than 10 units each.

Al-Hammad stressed that the market is broad and diversified, with no monopolies, though rising prices have been driven by supply shortages amid growing demand.

He noted that Ejar has documented more than 13 million contracts since its launch in 2017, averaging 4,200 contracts daily and enabling 40 million digital transactions to date.

In Riyadh alone, more than 18,000 contracts — including around 9,000 residential and commercial leases — were recorded since September 25.

Al-Hammad reaffirmed that Crown Prince Mohammed bin Salman’s directives are clear in steering the sector toward “comprehensive real estate balance,” with legal frameworks that safeguard tenant-landlord relations.

He added that the real estate sector remains a central driver of the national economy, vital to both Saudi families and investors.