The Ministry of Municipalities and Housing has adopted regulations for the early extension of lease contracts for large investment projects signed before the enforcement of the updated municipal property disposition law, and set organized criteria to enhance the investment environment and improve the efficiency of municipal property investment, and support the implementation of developmental investments in existing projects.

The Ministry explained that these regulations come within the framework of its efforts to enhance municipal investment, as they enable investors to extend their lease contracts during their term, continue developing and expanding their projects, and add qualitative investments that contribute to raising the efficiency of municipal assets and properties and maximizing their utilization, supporting urban development goals.

The Ministry added that the regulations contribute to creating a more attractive and stable investment environment, and encourage investors to develop existing projects and improve their efficiency, thereby enhancing the competitiveness of municipal investment and supporting private sector growth, positively reflected on the quality of facilities and services in cities and governorates.

The Ministry emphasized that the regulations organize the mechanism for extending investment lease contracts during their term for covered projects, according to a governance framework that balances safeguarding the rights of municipal entities and enabling investors to continue investment and development, enhancing partnership with the private sector and raising the economic value of municipal assets.

The Ministry invited investors and interested parties to review the regulations for early extension of lease contracts and the mechanism for benefiting from them via the electronic portal: https://furas.momah.gov.sa/ar/regulations-and-bylaws