Saudi Press

Saudi Arabia and the world
Wednesday, Mar 22, 2023

Government agencies can rent real estate outside Saudi Arabia for a maximum 10 years

Government agencies can rent real estate outside Saudi Arabia for a maximum 10 years

The State Properties General Authority revealed the regulations for renting real estate by government agencies outside Saudi Arabia.
According to the regulations, the lease contract shall be for a period not exceeding five years, and it may be stipulated in the contract that it can be automatically renewed for a similar period or periods that do not exceed 10 years.

It is permissible for any government agency to rent property outside the Kingdom only when it is urgently needed, and that the rental is in accordance with the provisions of the issued regulations. There should be a necessary financial appropriation for renting the property in the government agency’s budget.

The government agency shall coordinate with the authority to ensure that there is no real estate available for the state that meets its needs and that the real estate shall be allocated for the purpose for which it was rented. The area of ​​the real estate shall be rented in accordance with the standards approved by the authority.

The regulations stipulate that the government agencies must submit to the authority a request in the prescribed form expressing their desire to rent, specifying the purpose of the rental, the type of property required, the required rental period, as well as the required location, security and technical specifications, such as the number of employees, the number of parking lots and warehouses.

The properties include temporary headquarters for the diplomatic mission or housing for heads of missions or employees. The mission can take advantage of any of the options available in the host country, offices, furnished housing units, hotel apartments or hotels, provided that the real estate is furnished and ready for use for a period not exceeding six months, and it may be extended for a similar period after submitting it to the authorized person in the government agency. This shall be within the limits of the financial appropriations approved in the budget of the government entity.

The estimated cost of renting a permanent headquarters for mission offices or attached technical offices does not exceed $300,000 annually per site, and the estimated cost of renting a permanent residence for the head of mission or staff does not exceed $50,000 per site. This is within the limits of the financial appropriations approved in the budget of the government agency. Regarding the specifications of the property to be rented, it stipulated that it will be free of structural defects and shall neither be subject to dispute, nor belong to any of the authority’s employees or the government agency wishing to rent, or to a first-degree relative.

The government agency must ensure that the contract includes a provision according to which the landlord, during the validity of the contract, shall undertake the maintenance of the basic equipment of the leased property at his own expense, and the landlord shall not be compensated or the rent increased for carrying out remedial maintenance work that limits the use of the property during the contract validity period.
Newsletter

Related Articles

Saudi Press
Close
0:00
0:00
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Goldman Sachs cuts outlook for European bank debt over Credit Suisse crisis
Paris Rioting vs Macron anti democratic law
Credit Suisse to borrow $54 billion from Swiss central bank
Russian Hackers Preparing New Cyber Assault Against Ukraine
"Will Fly Wherever International Law Allows": US Warns Russia After Drone Incident
If this was in Tehran, Moscow or Hong Kong
Announcing GPT-4
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
China is calling out the US, UK, and Australia on their submarine pact, claiming they are going further down a dangerous road
A brief banking situation report
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
Good news: The U.S. government is now guaranteeing all deposits, held by, Silicon Valley Bank, and the funds are available as of today
Silicon Valley Bank exec was Lehman Brothers CFO
Saudi Arabia has announced a major breakthrough in diplomacy with Iran after two years of intense talks
A Mississippian man, who was once considered a “ticking time bomb,” has lost a whopping 165 kilograms! What motivated this incredible transformation?
Elon Musk Is Planning To Build A Town In Texas For His Employees
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
Barcelona is feeling the heat as they face corruption charges over payments to former vice-president of Spain's referees' committee, Jose Maria Enriquez Negreira
Banking regulators close SVB, the largest bank failure since the financial crisis
Watch: “They are wounded but unbowed, unbreakable.”
Silicon Valley Bank: Struggles Threaten Tech Startup Ecosystem"
The unelected UK Prime Minister Rishi Sunak, an immigrant himself, defends new controversial crackdown on illegal migration
Old clip of Bill Gates saying Ukraine is a big, fat, corrupt sinkhole is going viral
Saudi Arabia To Introduce Yoga In Universities
Middle East real estate market to see strong growth in 2023, predicts CBRE.
In a major snub to Downing Street's Silicon Valley dreams, UK chip giant Arm has dealt a serious blow to the government's economic strategy by opting for a US listing
Saudi Aramco, the energy giant, has acquired Valvoline Inc., a US-based oil company, for $2.65 billion
How do stolen goods end up on Amazon, eBay and Facebook Marketplace?
It's the question on everyone's lips: could a four-day workweek be the future of employment?
Is Gold the Ultimate Safe Haven Asset in Times of Uncertainty?
Spain officials quit over trains that were too wide for tunnels...
Hello. Here is our news digest from London.
Corruption and Influence Buying Uncovered in International Mainstream Media: Investigation Reveals Growing Disinformation Mercenaries
When it comes to Tesla vs Lamborghini, an empty vessel makes more noise
European MP Clare Daly condemns US attack on Nord Stream
Former U.S. President Carter will spend his remaining time at home and receive hospice care instead of medication
North Korea test-fires an intercontinental ballistic missile into the Sea of Japan west of Hokkaido
Tucker Carlson called Trump a 'demonic force'
US bombed Nord Stream gas pipelines, claims investigative journalist Seymour Hersh
Sheikh Jassim Bin Hamad Al Thani bid in for 100% of Manchester United
US Joins 15 NATO Nations in Largest Space Data Collection Initiative in History
White House: No ETs over the United States
Saray Street in Hatay-Antakya before and after the earthquake
U.S. Jet Shoots Down Flying Object Over Canada
Nord Stream terror attack: David Sacks breaks down Sy Hersh's story
Being a Tiktoker might be expensive…
Miracle: El Salvador Search and Rescue teams, with the support of Turkish teams, rescued a woman and a child from the rubble 150 hours after the earthquake
×