Document background
The Joint Development Agreement Between Landowner And Builder is a crucial document in Saudi Arabia's rapidly expanding real estate sector, aligned with the Kingdom's Vision 2030 economic transformation program. This agreement type is particularly relevant for projects where a landowner seeks to develop their property in partnership with a construction entity, rather than through a straightforward sale or construction contract. The document must comply with both Sharia law principles and Saudi Arabia's comprehensive construction and real estate regulations. It typically includes detailed provisions for land contribution, development responsibilities, profit-sharing mechanisms, regulatory compliance requirements, and risk allocation. The agreement is especially important in the context of Saudi Arabia's increasing focus on private sector participation in real estate development and the government's emphasis on structured, transparent business relationships.
