Law of Selling and Leasing Off Plan Real Estate Projects
Art. 13Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
A developer may, upon the competent authority’s approval, withdraw any amounts in excess
of the total actual cost required to complete the real estate project and its amenities, pursuant
to a report from the contractor and the consulting firm, provided that the certified public
accountant retains in the escrow account an amount equal to 20 percent until the completion
of the project.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
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