Saudi takes rental contracts online, links ‘Sakani’ with ‘Baladi’ portal

Saudi takes rental contracts online, links ‘Sakani’ with ‘Baladi’ portal

Saudi Arabia's Minister of Housing, HE Majid bin Abdullah Al-Hogail, along with the kingdom's Minister of Trade and Investment of Municipal and Rural Affairs, Majid bin Abdullah Al-Qasabi, have launched a unified, mandatory 'lease contract' for the commercial real estate sector, which requires all residential and commercial rental contracts to be registered in the online rental services network.. The initiative will involve the activation of a link between the Ministry of Housing's 'Sakani' programme and the 'Baladi' portal, which will compel stakeholders such as real estate brokerage firms to enter into rental contracts for the commercial sector through a rental network..