The Authority continues to monitor real estate indicators in various cities, pointing out that the application of the statutory provisions of rent stabilization for a period of five years. <Taysir Al-Mafraj, the official spokesperson for the authority, told Al-Arabiya that the authority continues to monitor real estate indicators in various cities, noting that the application of the statutory provisions for rent stabilization will be done according to market standards and monitoring results for each city, ensuring a balance between the interests of landlords and tenants.

Taysir Al-Mafraj, spokesperson for the authority, told Al-Arabiya. The Authority is currently working on a study to stabilize the total rent for residential and commercial contracts in vacant properties within the urban ranges of the rest of the cities, based on the real estate indicators available to it, in order to control the contractual relationship between the parties and enhance the stability of the rental market.

Mufaraj explained that the Authority is currently working on a study to stabilize the total rent value for residential and commercial contracts in vacant properties within the urban ranges of the rest of the cities.

Rent stabilization in all cities

The spokesperson added that the decision to stabilize rents for five years in Riyadh came as a result of in-depth studies of the rental market. The spokesperson pointed out that the five-year stabilization period gives tenants more security and stability, preventing them from sudden increases in rent, while providing investors and landlords with clarity that enables them to plan long-term with confidence, in a more sustainable and regulated real estate environment.

The Real Estate Authority announced that it has announced a five-year stabilization period for the rental market, based on strategic objectives that seek to supply and demand, and increase the supply of real estate units, which contributes to price stability and stimulates investment in the sector. The Real Estate Authority announced a package of decisions to regulate the real estate market, such as stopping the annual increase in the value of the gross rent in residential and commercial real estate leases (existing or new) in properties located within the urban area of Riyadh for a period of 5 years, in addition to fixing the gross rent value of vacant residential and commercial real estate leases within the urban area of Riyadh (previously rented) according to the total value of the last "rent" contract.

In addition, documenting the total value of the rent of the last "rent" contract. The lessor in a lease contract that is not registered in the electronic network for rental services “Ejar” must apply to register the contract in ”Ejar”, and the tenant has the right to apply to register the contract in ”Ejar”, and the other party may object to the contract data before the Public Authority for Real Estate within 60 days from the date of informing him of the registration, and if that period expires without objection, the contract data will be valid.

In addition to regulating the rental contracts for vacant residential and commercial properties within the urban area of Riyadh (previously leased) according to the total value of the total rent of the last contract “Ejar”. <In addition to regulating the controls of automatic renewal in rental contracts: A lease contract (in all cities of the Kingdom) is automatically renewed unless one party notifies the other party not to renew at least 60 days before the expiration date of the contract term, except for the following cases: Fixed-term contracts with 90 days or less remaining when these provisions come into effect, or in the case of contracts that the parties agree to terminate by mutual consent after the deadline for submitting the notice of non-renewal.