The Real Estate Committee of the Riyadh Chamber of Commerce, in collaboration with the General Authority for State Real Estate at the Chamber’s headquarters today, an introductory session on the State Real Estate Leasing System and its implementing regulations.

The meeting aims to explain the provisions of the system and its implementing regulations, as well as the procedures and mechanisms for government agencies to apply to lease real estate, in addition to reviewing the lease terms, the terms of the lease agreement, its duration, and the mechanism for its extension, as well as how to resolve any disputes that may arise between the lessor and the government agency leasing the property.

During the session, the Chamber will host three speakers from the Authority: Director of Regulations and Systems Abdulaziz Al-Suwailem; Director General of Real Estate Operations, Engineer Fahad Al-Tamihi; and Majid bin Anzan, Director General of the General Property Administration, in the presence of a number of specialists, real estate professionals, and interested parties from among the Chamber’s members, government agencies, and the private sector.

The Chamber seeks to the new system for government real estate leasing and its implementing regulations, which came into effect on Thursday, 11/7/1444 AH, corresponding to February 2, 2023 AD, to achieve a number of objectives; most notably regulating the government’s real estate leasing process in accordance with the needs of government agencies, rationalizing the financial costs of leasing operations, strengthening governance, and establishing principles of transparency