Here are details of State Ownership of Real Estate Law

Riyadh city

The Official Gazette Umm Al Qura published on Feb. 17 details of the State Ownership of Real Estate Law issued under a decision from the Real Estate General Authority (REGA) dated Dec. 28, 2022.

The law is applicable to all ownership requests submitted by the government inside the Kingdom. It is effective from the publication date.

Under Article 2, the government agency may own the real estate, when necessary, in accordance with the applicable rules. However, the government agency should not have an unexploited property fulfilling its needs. The state also should not have a property meeting the need of the government agency that plans to own the property. Furthermore, the government agency should have the necessary financial approval to own the property.

The target property should be owned under a title deed and is free of defects, as per a report from an engineering office licensed by the competent authorities. The property also should not have any violations to any competent authority or is subject to a judicial dispute in terms of ownership or benefits. The property specifications should meet the needs of the government entity planning to own.