Author: Decree

Arabic

With the help of Allah the Almighty

We, Salman bin Abdulaziz Al-Saud, the King of the Kingdom of Saudi Arabia,

based on article 70 of the Basic Law of Governance issued by Royal Order O/90 dated 27 Sha’ban 1412,

based on article 20 of the Law of the Council of Ministers issued by Royal Order O/13 dated 3 Rabi Al-Awwal 1414,

based on articles 17 and 18 of the Law of the Shura Council issued by Royal Order O/91 dated 27 Sha’ban 1412,

after perusal of Shura Council Decision 306/45 dated 28 Dhu Al-Qa’dah 1443 and Decision 184/25 dated 28 Sha’ban 1444,

and after perusal of Council of Ministers Decision 196 dated 4 Rabi Al-Awwal 1445,

have decreed as follows

First: The Law of Selling and Leasing of Off-Plan Real Estate Projects is hereby approved in the form attached.

Second: Whoever practises any of the activities covered by the law– referred to in clause First of this decree– shall submit an application to the competent entity referred to in article 1 of the law to rectify his status in accordance with its provisions within a period not exceeding three months from the date of its entry into force. The chief official of the competent entity may extend it for another three months if there are objective reasons.

Third: His Royal Highness the Prime Minister, the ministers, and the heads of independent concerned authorities—each within their area of competence—shall implement this decree of Ours.

Salman bin Abdulaziz Al-Saud

Issued on: 10/3/1445
Corresponding to: 25/9/2023

Published in Umm Al-Qura 5014 issued on 5 January 2024.