Saudi Arabia: Implementation of Government Rental of Real Estate to Start Soon
Almadina, 29 January 2023: The Saudi General Authority for State Real Estate has clarified that the state’s real estate rental law and its implementing regulations will come into force starting from 2 February 2023.
The law was approved, and 180 days have passed since its publication in the Umm Al-Qura newspaper, so it must be implemented.
The new law and its implementing regulations have replaced the “state leasing and eviction of real estate” law and its implementing regulations.
It aims to regulate the state’s real estate leasing through government agencies according to its needs. It also rationalises the financial costs of renting and optimises using real estate properties leased by government agencies.
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