Saudi Gazette report

JEDDAH — Crown Prince and Prime Minister Mohammed bin Salman has issued a directive to extend the period of study aimed to regulate the relationship between landlords and tenants to a period not exceeding 90 days.

As per the directive, this study should take into account all relevant parties, ensuring fairness in rental transactions, protecting beneficiaries from any fluctuations, regardless of their source, and maintaining an attractive and stimulating investment environment.

The Crown Prince's directive is based on the submissions of the Real Estate General Authority and relevant authorities regarding the necessary measures to regulate the relationship between landlords and tenants. This is also to complete the regulatory requirements for the proposed solutions and ensure their comprehensiveness across all residential, commercial, and office assets, in addition to completing all requirements to ensure a balance between the interests of all parties involved in the real estate sector.

The Crown Prince's directive confirms the wise leadership's commitment to the principle of transparency as a constant approach in government work, the Saudi Press Agency reported.