Crown Prince Directs Extension of Rental System Review to 90 Days in Saudi Arabia
In a significant step toward improving the real estate rental framework, Crown Prince Mohammed bin Salman has directed that the review period for proposed rental system reforms be extended to a maximum of 90 days. This decision comes in response to recommendations made by the Real Estate General Authority and other relevant agencies.
Purpose Behind the Extension
The directive aims to allow more time for a thorough review of the proposed reforms that will apply to residential, commercial, and office rental properties. The goal is to strike a fair balance between the interests of landlords and tenants and to ensure legal and procedural transparency in all aspects of rental agreements.
The review will also support the development of regulations that protect both parties, resolve disputes more efficiently, and enhance investor confidence in Saudi Arabia’s real estate sector.
Supporting Transparent Governance
As reported by the Saudi Press Agency (SPA), this move underscores the Crown Prince’s unwavering commitment to promoting transparency and fairness within government practices. It also ensures that all stakeholders — including property owners, tenants, and investors — are taken into account when developing the new legal framework.
The review will consider:
- Legal protections for tenants and property owners
- Mechanisms to resolve rental disputes fairly
- Transparency in contract terms and pricing
- The impact of market fluctuations on renters
- Measures to ensure long-term investment confidence in the housing and commercial sectors
Towards a Stable and Attractive Rental Market
The extended study period will help create a more structured, stable, and attractive rental market in the Kingdom, aligning with Vision 2030 objectives. Authorities are tasked with conducting a comprehensive evaluation that supports a sustainable real estate environment, with fair rules and opportunities for all.
