Crown Prince extends study on landlord-tenant regulation by 90 days

Crown Prince Mohammed bin Salman

Crown Prince Mohammed bin Salman issued a directive to extend the study to regulate the relationship between landlords and tenants by no more than 90 days.

The extension is aimed at completing all requirements to ensure a balance between all parties in the local real estate sector, according to the state-run news agency SPA.

This came based on what was submitted by the Real Estate General Authority (REGA) and relevant authorities regarding taking the necessary measures to regulate the relationship between landlords and tenants, ensuring their comprehensiveness across all residential, commercial, and office assets.

The Crown Prince's directive allows for ensuring that this study takes into account all relevant parties, thus achieving fairness in rental transactions, safeguarding against possible fluctuations, and maintaining a lucrative investment environment.

In March, the Crown Prince issued directives to take a number of measures to achieve balance in the real estate sector in Riyadh, mandating 90 days maximum to regulate the relationship between landlords and tenants, according to data available with Argaam.