The Ministry of Municipalities and Housing has approved regulations for the early extension of lease contracts for investment projects built on the properties of secretariats and municipalities, allowing investors to extend their contracts after the expiration of half their term, within a regulatory framework aimed at enhancing the sustainability of municipal investments.

The ministry explained that the new regulations give investors the opportunity to continue developing their existing projects and expand them, contributing to enhancing the stability of investments and raising the efficiency of investing assets and properties belonging to secretariats and municipalities.

It emphasized that this step comes within the framework of supporting urban development and enhancing partnership with the private sector, by providing a more stable and attractive investment environment, encouraging more investments in municipal projects.

The ministry added that the early extension regulations aim to support the sustainability of investment projects, contribute to improving the quality of life in Saudi cities, as well as stimulate sustainable economic growth and maximize the utilization of municipal assets.