The Real Estate Committee of the Riyadh Chamber and the General Authority for State Properties organized an introductory meeting on <a style="color: #800000;" href="https://amlak.net. and its executive regulations at the Chamber's headquarters last Wednesday to introduce the lease system, its executive regulations and the mechanisms for submitting government lease applications, which are done electronically through the Intifaa platform.
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Abdulaziz Al-Suwailem, Director of Rules and Regulations at the Authority, said: The system targets ministries, public bodies and institutions and the like, as well as property owners or those who have the right to lease it legally, with the aim of regulating the process of leasing real estate by the state according to actual needs, stressing that the system has unified the supervisory body for the leasing process, which is represented in the Commission.
the Commission
Fahad Al-Tumaihi, Director General of Real Estate Operations at KDIPA, explained that the system and its executive regulations will contribute to developing the utilization of leased real estate by government entities, enhancing governance, and establishing the principles of transparency and efficiency in government real estate leasing operations.
Fahad Al-Tumaihi, Director General of Real Estate Operations at KDIPA, said
He said:
It allows flexibility in determining the duration of lease contracts, which can be up to 5 years renewable, 25 years subject to the approval of the Authority, and 50 years for properties built on government lands that the Authority contracts with investors for investment projects.
Allowing one property to be leased to a number of government entities, as well as authorizing the completion of a lease-to-own contract after obtaining the approval of both the Authority and the Ministry of Finance.
In turn, Majed bin Anzan, Director of the General Directorate of Properties, confirmed that the Authority has launched in the Entifaat platform a service to receive requests from government entities to provide their real estate needs from "buildings - land", which allows property owners to apply for the available leasing opportunities. Majid bin Anzan, Director General of Properties.
Lease System Contracts
