Based on what was studied in the Royal Commission for Riyadh City and the Council of Economic and Development Affairs regarding the real estate sector, and the rise in land prices and rents in the city of Riyadh in the past years, and in order to achieve balance in the real estate sector, and after the issuance of the generous approval, HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud directed the Crown Prince, the Prime Minister - may God protect him - to take a number of measures in this regard.
First.
First: Lifting the suspension on the disposal of sale, purchase, division and partition, issuing building permits and approving plans for the land located north of Riyadh bordered on the west by King Khalid Road and the extension of Prince Mohammed bin Saad bin Abdulaziz Road (formerly Al Khair Road), on the south by Prince Saud bin Abdullah bin Jalawi Road, on the north by Asma bint Malik Street, on the east by Al Arid neighborhood with an area of 17 square kilometers, and the land located north of King Salman Road bordered on the east by Abu Bakr Al Siddiq Road and Al Arid neighborhood, north by Prince Khaled bin Bandar Road and west by Qirwan neighborhood with an area 16 square kilometers,2 square kilometers, in addition to the two areas that the suspension was recently lifted, with an area of 48.28 square kilometers, bringing the total area of what has been lifted in Riyadh to 81.48 square kilometers according to the attached map.
<Secondly: The Royal Commission for Riyadh City will work to provide planned and developed residential lands for citizens in the number of between 10 to 40 thousand pieces per year during the next five years according to supply and demand, at prices not exceeding 1500 riyals per square meter, for married citizens or those over 25 years of age, provided that the applicant has no other previous real estate ownership and meets other controls, including not selling, leasing, mortgaging or disposing of it in any form of disposal within 10 years, except mortgaging for the purposes of financing the construction of that land, and if it is not built within this period, the land will be recovered and its value returned to him.
Third: To take action to provide planned and developed residential lands for citizens in the city of Riyadh. Third: Taking the necessary legal measures to issue the proposed amendments to the White Land Fees Law urgently within a period not exceeding (60) days, in order to ensure the enhancement of the real estate supply.
Fourth: Taking the necessary legal measures to issue the proposed amendments to the White Land Fees Law urgently within a period not exceeding (60) days. <Fourth: Take the necessary statutory measures within a period not exceeding (90) days to regulate the relationship between landlords and tenants to ensure a balance between the interests of the parties.
Fifth: Take the necessary statutory measures within a period not exceeding (90) days <Fifth: Assigning the General Real Estate Authority and the Royal Commission for Riyadh City to monitor and control real estate prices in Riyadh and submit periodic reports.
