Off-Plan Real Estate Sale and Lease Law

Release Date:	1445-03-10
Release Tool:	Royal Decree
Issuance Instrument Number:	m/44
Validity:	Valid
Summary:	By AI King Salman bin Abdulaziz Al Saud issued a decree approving the Law on the Sale and Lease of Real Estate Projects on the Map, requiring concerned individuals to adjust their status within three months of its enforcement, with the possibility of extension. The law specifies the competent authority for its implementation and includes important definitions such as "responsible" and "developer." Developers must register in a special registry and obtain a license before announcing their projects. The...

Release Date:

1445-03-10

Release Tool:

Royal Decree

Issuance Instrument Number:

m/44

Validity:

Valid

Summary:

By AI

King Salman bin Abdulaziz Al Saud issued a decree approving the Law on the Sale and Lease of Real Estate Projects on the Map, requiring concerned individuals to adjust their status within three months of its enforcement, with the possibility of extension. The law specifies the competent authority for its implementation and includes important definitions such as "responsible" and "developer." Developers must register in a special registry and obtain a license before announcing their projects. The...