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Ejari Revolutionizes Saudi Rental Market with ‘Rent-Now, Pay-Later’ Model

Prime Highlights

  • Saudi proptech startup Ejari shakes up the old rental paradigm with a “rent-now, pay-later” option and aspires to be a real estate super app.
  • In 2022, Ejari offers renters flexible bundles of rent, bundled services, and an easy-to-use digital front end.

Key Facts

  • Ejari rents apartments and homes from their owners and resublets them to renters through convenient monthly payments.
  • The company will extend into commercial and industrial leasing, furthering Saudi Arabia’s “Vision 2030.”

Key Background

Ejari, which was introduced in 2022 in Saudi Arabia, is revolutionizing the rental industry with its new “rent-now, pay-later” scheme. The startup gives tenants the flexibility to pay their rent annually in installments instead of paying a lump sum. This model not only makes the financial burden easier but also encourages planning and stability for families as well as individuals. The model of the startup is to transform the experience of the tenant with ease and convenience.

CEO Yazeed Al-Shamsi himself has experienced stringent rent payment systems that spawned the concept of Ejari. Himself and his co-founders developed a system that accommodates flexible lease payments integrated with value-added services such as furnishing, property maintenance, and even moving through third-party partners. All these services wrapped into one transform Ejari into not only a rental platform but a lifestyle management tool.

The platform’s business model is built around bulk renting of properties from landlords and then selling them to tenants on a virtual platform. With its minimal technology stack, Ejari provides a single interface for all of renting—searching for, agreement, payment, and extras. It is especially apt now since Saudi Arabia is investing heavily in smart homes and real estate tech during the modernization of its infrastructure.

In the future, Ejari will expand its services to include commercial and industrial rental properties, rather than just residential properties. The action is in line with Saudi Arabia’s “Vision 2030,” which emphasizes diversification beyond oil and promoting innovation in non-oil economies. Expanding, Ejari is set to become a market leader in the proptech space in the region, catering to a technology-hungry nation and driving national goals.

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