Saudi Arabia Freezes Riyadh Property Rental Rates for Five Years

In a landmark step, Saudi Arabia has announced that rental rates for residential and commercial properties in Riyadh will be frozen for the next five years.

The decision, unveiled by the Ministry of Housing, is aimed at curbing sharply rising rents and addressing the housing affordability crisis that has affected many citizens. Officials stated that both new and existing lease agreements in Riyadh will remain fixed at current rates throughout this period, with landlords prohibited from imposing any increases.

Authorities emphasized that the move is designed to ease the financial burden on residents, particularly middle- and low-income groups, while making Riyadh a more livable city.

Experts view the measure as part of the kingdom’s broader Vision 2030 strategy, which seeks to enhance living standards and position Riyadh as a global hub for business and residential life.

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