- Residential and commercial property
- Includes existing contracts
- Move could extend to other cities
The Saudi Real Estate General Authority (Rega) has announced a five-year freeze on rent increases for residential and commercial properties in Riyadh.
The move is intended to combat what Crown Prince Mohammed bin Salman called “unacceptable” levels of price rises.
Rega said in a statement released on Thursday afternoon that the new rules were “in response to the challenges witnessed in the capital in recent years concerning the rise in residential and commercial…
