The Real Estate General Authority (REGA) plans to carry out studies on expanding the implementation of the regulations with regard to freezing rent increase to encompass all regions across the Kingdom for five years, said Taiseer Al Mofarej, REGA’s Director General of Strategic Communication and Spokesperson.
He told Al Arabiya.net that the authority continuously monitors and tracks real estate indicators across Saudi cities, noting that the regulations will be applied according to market standards and the monitoring results for each city.
He emphasized that the rent freeze decision was based on in-depth studies of the rental market in Riyadh, which aligned with the national plan to balance supply and demand and increase the real estate supply.
“This period gives tenants the opportunity to stabilize their rents and protects them from sudden increases.
At the same time, it provides investors with clarity that enables them to plan with confidence within a stable environment,” Al Mofarej said.
According to Argaam data, the Cabinet recently approved the regulations governing landlord–tenant relations, which include freezing annual rent increases for both residential and commercial properties, whether existing or new, in Riyadh for five years.
The Real Estate General Authority (REGA) plans to carry out studies on expanding the implementation of the regulations with regard to freezing rent increase to encompass all regions across the Kingdom for five years, said Taiseer Al Mofarej, REGA’s Director General of Strategic Communication and Spokesperson.
He told Al Arabiya.net that the authority continuously monitors and tracks real estate indicators across Saudi cities, noting that the regulations will be applied according to market standards and the monitoring results for each city.
He emphasized that the rent freeze decision was based on in-depth studies of the rental market in Riyadh, which aligned with the national plan to balance supply and demand and increase the real estate supply.
“This period gives tenants the opportunity to stabilize their rents and protects them from sudden increases.
At the same time, it provides investors with clarity that enables them to plan with confidence within a stable environment,” Al Mofarej said.
According to Argaam data, the Cabinet recently approved the regulations governing landlord–tenant relations, which include freezing annual rent increases for both residential and commercial properties, whether existing or new, in Riyadh for five years.
