Real Estate

Real Estate

Al-Ghanim law firm stands out for its experience in dealing with all kinds of legal aspects ofbuying, selling, leasing,  disputes resolution andlitigation related to Real Estate (Residential & Commercial) in the Kingdom of Saudi Arabia. We deal with foreign investments, tenantadvice, portfolio, leasing, markets and fund structure. We proudly offer services to property developers, occupiers, builders and investors.We take pride in serving our clients by making them understand the covenant as both landloard and tenant need incessant advice to ensure ‘Pactasuntservanda’.

The Foreign Ownership of Real Estate Regulation (enacted by Royal Decree No. M/15 dated 17/04/1421H, corresponding to 19 July 2000) regulates the acquisition by foreign, non-GCC nationals, of real estate in Saudi Arabia. Under this regulation, the ownership and investment in real estate by a foreign investor is permitted, subject to obtaining a foreign investment licence from the Saudi Arabian General Investment Authority (‘SAGIA’).Moreover Al-Ghanim law firm has a vast experience with Saudi Arabian General Investment Authority (SAGIA) and vows to help multi nationals in quest of launching business in KSA. The following initiatve by the Government has open doors for prosperity and goals set as Vision 2030.

  • Economic Cities – (deeds of all economic cities are in names of foreign entities)
  • REITs – (CMA introduced formation of Reasl Estate investments fund on Saudi Stock Exchange)
  • Off Plan Sales – (to provide added consumer protection)
  • Mortgage of Real Estates – (debt being secured by mortgage)
  • Jointly Owned Property– (governs the law of home owners association)
  • Value Added Tax – (increased from 5% to 15% as per July, 2020)
  • Etmam – (aimed to facilitate real estate developers)
  • Ejar – (looking after the rights of Landlord and tenants equally)
  • Real Estate General Authority–(created in order to imrove transparency)
  • Idle/ White Land Tax Law – (Tax on undeveloped urban land to encourage fair competition) 

“.. appreciated effort in organizing Investment programme in which Saudi Arabia ranked 33 out of 187 Countries”