The Ministry of Municipalities and Housing has adopted regulations for the early extension of lease contracts for large investment projects concluded before the enforcement of the updated municipal property disposal regulations, and set the regulatory controls and standards for that, to enhance the investment environment, raise the efficiency of municipal property investment, and support the implementation of development investments in existing projects. The Ministry explained that the regulations come within the framework of its efforts to enhance municipal investment, by enabling investors to extend their lease contracts during their validity period, continue developing and expanding their projects, and add qualitative investments, contributing to raising the efficiency of investment in municipal assets and properties, maximizing their utilization, and supporting urban development targets. It added that the regulations contribute to creating a more attractive and stable investment environment, encourage investors to develop existing projects and improve their efficiency, which enhances the competitiveness of municipal investment, supports private sector growth, and helps improve the quality of facilities and services, reflecting on the quality of life in cities and governorates.

The Ministry stressed that the regulations organize the mechanism for extending investment lease contracts during their validity period for the covered projects, according to a governance framework that balances preserving the rights of municipal authorities and enabling investors to continue investment and development, enhancing the partnership with the private sector, achieving development targets, 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 link: https://furas.momah.gov.sa/ar/regulations-and-bylaws.