The Kingdom is studying an end to the high residential and commercial rents

The CEO of the General Authority of the Real Estate, Abdullah Al -Hammad, said that the Kingdom is considering putting an end to the rise and commercial, and the use of international experiences in this field, in his statements to Al -Arabiya.
The head of the Real Estate Authority affirmed that work is underway to end the new white land fees system, which is one of 5 decisions directed by His Royal Highness Prince Muhammad bin Salman bin Abdulaziz Al Saud, Prime Minister, to provide real estate balance, and to confront the high prices of land and rents in Riyadh.
Al -Hammad explained that the real estate balance decisions are based on increasing the real estate supply by lifting the suspension from the north of the capital and pumping new lands, in addition to controlling the contract rental relationship, continuous monitoring and follow -up and submitting periodic reports.

The stability of the real estate market

His Highness the Crown Prince – may God protect him – was directed to lift the suspension from the lands of the north of Riyadh, after a stage of urban planning for the region, to enhance Riyadh’s position as one of the best international capitals for life and work, and generous approval was issued based on what was studied by the Royal Commission for the city of Riyadh.
The measures directed by His Highness the Crown Prince to a number of the concerned authorities regarding the lands of the city of Riyadh confirm the extent of the rational leadership’s commitment to provide effective and rapid solutions to face the challenges of the real estate sector, both residential and commercial, and to achieve stability in the real estate market in a way that reflects positively on individuals and the private sector.