موتيلز

Moteelz

About this app

Motels – Hotel Lessees Platform

The Economic Housing Real Estate Services Company, licensed and registered in the Kingdom of Saudi Arabia, operates Motels as a hotel lessee platform. It operates in accordance with the regulations and laws applicable in the Kingdom and adheres to contractual transparency standards, clearly outlining the rights and obligations of lessees.

The Motels platform allows users to purchase the right to use selected hotel units in the Kingdom’s most prominent hotel destinations and participate in the net rental income upon the contract’s expiration. This is facilitated through a usufruct purchase and income sharing agreement, which is documented and reviewed by an independent, accredited Sharia advisory body.

The platform’s operational model involves selecting a hotel unit, paying the usufruct fee for a specified period, and then electronically signing the usufruct purchase agreement via the government-approved Nafath platform. Upon signing, the agreement is digitally encoded on the blockchain, ensuring its security and preventing any modifications.

The Economic Housing Company manages the actual rental of the unit throughout the contract period, including marketing, reservations management, and all operational matters. Upon contract expiry, the estimated net usage fees are transferred to the registered bank account of the tenant on the platform.

Each contract includes a detailed appendix outlining the description of the hotel unit, the usage period, the usage fee in Saudi Riyals, the estimated basis for the usage fees, and the payment due date.

Important Note: Usage fees are estimated and not guaranteed. They are affected by actual occupancy rates and market conditions and are paid only upon contract expiry; they are not distributed periodically during the contract period.

Economic Housing Company for Real Estate Services — Registered in the Kingdom of Saudi Arabia, Commercial Registration No. 1010878280, Platform License No. 03487493226.

Motels: Legitimate in their foundation, technologically advanced in their tools, and Saudi in their identity.

What’s new

جديد موتيلز: تواصلك معنا صار أسهل!
تم توحيد جميع قنوات خدمة العملاء في رقم واحد معتمد للاتصال ورسائل الواتساب:
0115166909