The Ministry of Municipalities and Housing approved regulations for the early extension of lease contracts for investment projects established on properties of municipalities and municipal councils, allowing contracts to be extended after half of their term has elapsed, in accordance with clear regulatory controls.

The Ministry explained that these regulations enable investors to continue developing and expanding their existing projects, and contribute to enhancing the stability of municipal investments and increasing the efficiency of investing the assets and properties belonging to municipalities and municipal councils.

The Ministry pointed out that early extension supports the course of urban development and strengthens partnership with the private sector, by providing a more stable and attractive investment environment for investors.

The Ministry emphasized that these regulations aim to support the sustainability of investment projects, improve the quality of life in Saudi cities, and stimulate sustainable economic growth.