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Joint Development Agreement (Real Estate) Template for Saudi Arabia

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Key Requirements PROMPT example:

Joint Development Agreement (Real Estate)

"I need a Joint Development Agreement (Real Estate) for a mixed-use development project in Riyadh between a local Saudi developer and an international investment firm, with construction scheduled to commence in March 2025 and involving both retail and residential components."

Document background
The Joint Development Agreement (Real Estate) is a crucial document used when multiple parties wish to collaborate on real estate development projects in Saudi Arabia. It is particularly relevant for large-scale developments where parties combine their resources, expertise, and assets to undertake significant real estate projects. The agreement must comply with Saudi Arabian law, including Shariah principles, real estate regulations, and foreign investment restrictions where applicable. It typically details land contribution arrangements, development responsibilities, profit-sharing mechanisms, construction requirements, and regulatory compliance obligations. This agreement type is essential for structuring complex development relationships while ensuring alignment with Saudi Vision 2030's real estate development goals and local regulatory requirements.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including their legal status and registration details

2. Background: Context of the development project, including property details and development objectives

3. Definitions and Interpretation: Comprehensive definitions of terms used throughout the agreement and interpretation rules

4. Project Scope: Detailed description of the development project, including location, size, and type of development

5. Land Contribution and Ownership: Details of land ownership, transfer arrangements, and title verification

6. Roles and Responsibilities: Specific duties and obligations of each party in the development process

7. Development Timeline: Project phases, milestones, and completion deadlines

8. Financial Terms: Investment contributions, profit sharing arrangements, and financial management

9. Construction and Development: Construction standards, contractor appointment, and development specifications

10. Regulatory Compliance: Obligations regarding permits, approvals, and compliance with Saudi laws

11. Management and Control: Project management structure and decision-making processes

12. Risk Allocation: Distribution of risks and responsibilities between parties

13. Insurance and Liability: Required insurance coverage and liability provisions

14. Default and Termination: Events of default, remedies, and termination procedures

15. Dispute Resolution: Methods for resolving disputes, including Saudi law requirements

16. General Provisions: Standard clauses including notices, amendments, and governing law

Optional Sections

1. Shariah Compliance: Specific provisions ensuring compliance with Islamic law, required when Islamic financing is involved

2. Foreign Investment Provisions: Additional requirements when foreign investors are involved in the project

3. Marketing and Sales: Terms governing the marketing and sale of developed units, needed for residential/commercial developments

4. Environmental Compliance: Specific environmental obligations, required for environmentally sensitive projects

5. Community Facilities: Provisions for shared facilities and amenities, needed for master community developments

6. Phasing Provisions: Detailed phasing structure, required for large-scale developments with multiple phases

7. Off-Plan Sales: Specific provisions for selling units before completion, needed if off-plan sales are planned

Suggested Schedules

1. Property Details: Legal description of the development land, including title deeds and plans

2. Development Plans: Architectural plans, drawings, and specifications

3. Project Timeline: Detailed construction and development schedule

4. Financial Model: Project budget, cost allocation, and profit distribution mechanisms

5. Required Approvals: List of required permits and regulatory approvals

6. Form of Transfer Deed: Template for property transfer documentation

7. Construction Specifications: Detailed construction and material specifications

8. Management Structure: Organizational chart and management procedures

9. Service Agreements: Forms of key service provider agreements

10. Insurance Requirements: Detailed insurance specifications and requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































































Clauses









































Relevant Industries

Real Estate Development

Commercial Property

Residential Property

Mixed-use Development

Retail Development

Industrial Development

Hospitality

Infrastructure Development

Urban Planning

Construction

Relevant Teams

Legal

Real Estate

Development

Construction

Finance

Investment

Commercial

Operations

Compliance

Business Development

Project Management

Planning

Property Management

Relevant Roles

Chief Executive Officer

Chief Development Officer

Real Estate Director

Development Manager

Project Manager

Construction Manager

Legal Counsel

Investment Manager

Finance Director

Commercial Director

Planning Manager

Compliance Officer

Property Manager

Operations Director

Business Development Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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