Leasehold Agreement

Leasehold Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

"I need a Leasehold Agreement for a commercial office space in Riyadh, Saudi Arabia, starting from March 1, 2025, with specific provisions for IT infrastructure installations and 24/7 access rights for a technology company tenant."

Document background

The Leasehold Agreement serves as a fundamental legal instrument in Saudi Arabia's real estate sector, used whenever a property owner (landlord) grants temporary possession and use rights to another party (tenant) in exchange for rent. This document is essential for both commercial and residential property transactions in Saudi Arabia, requiring careful attention to local legal requirements, including mandatory registration in the Ejar system. The agreement must comply with the Saudi Lease Law of 2014 and align with Sharia principles, making it distinct from lease agreements in other jurisdictions. It typically includes comprehensive details about the property, rental terms, maintenance obligations, and specific provisions required under Saudi law, such as payment mechanisms and dispute resolution procedures. The document is particularly relevant given Saudi Arabia's growing real estate market and the increasing focus on formalizing property relationships under Vision 2030.

Suggested Sections

1. Parties: Identification of the Landlord and Tenant with full legal names, addresses, and identification numbers as required by Saudi law

2. Background: Context of the lease agreement and brief description of the property

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the leased property including address, boundaries, and permitted use

5. Term and Renewal: Duration of the lease, commencement date, and renewal provisions

6. Rent and Payment Terms: Rental amount, payment schedule, method of payment, and late payment consequences

7. Security Deposit: Amount, terms of holding, and conditions for return of the security deposit

8. Utilities and Services: Responsibility for utilities, services, and related charges

9. Maintenance and Repairs: Obligations of both parties regarding property maintenance and repairs

10. Tenant's Obligations: Core responsibilities and restrictions on the tenant's use of the property

11. Landlord's Obligations: Core responsibilities of the landlord including providing quiet enjoyment

12. Insurance: Required insurance coverage and responsibilities of each party

13. Default and Remedies: Events of default and available remedies for both parties

14. Termination: Grounds and procedures for early termination of the lease

15. Notices: Method and addresses for formal communications between parties

16. Governing Law: Confirmation of Saudi law application and Sharia compliance

17. Dispute Resolution: Procedures for resolving disputes including jurisdiction of Saudi courts

Optional Sections

1. Subletting and Assignment: Terms for subletting or assigning the lease, if permitted

2. Alterations and Improvements: Provisions regarding modifications to the property, used for commercial properties

3. Force Majeure: Provisions for unforeseen circumstances preventing performance

4. Option to Purchase: Terms for tenant's right to purchase the property, if applicable

5. Guarantees: Additional guarantees or securities required for commercial or high-value leases

6. Special Uses: Specific provisions for particular property uses (e.g., commercial, industrial)

7. Environmental Compliance: Environmental obligations for commercial or industrial properties

8. Property Management: Terms regarding property management services if applicable

9. Common Areas: Rights and obligations regarding shared facilities in multi-unit properties

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including floor plans and photographs

2. Schedule 2 - Inventory: List of furnishings and equipment included in the lease

3. Schedule 3 - Service Charges: Breakdown of service charges and calculation method

4. Schedule 4 - Building Rules: Specific rules and regulations for the property or building

5. Schedule 5 - Maintenance Schedule: Detailed maintenance responsibilities and schedules

6. Schedule 6 - Permitted Alterations: Pre-approved alterations or improvements

7. Schedule 7 - Handover Protocol: Procedures and checklist for property handover

8. Appendix A - Required Permits: Copies of relevant permits and certificates

9. Appendix B - Insurance Requirements: Detailed insurance specifications

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Commercial Property

Residential Property

Retail

Industrial

Hospitality

Office Space

Manufacturing

Logistics

Healthcare

Education

Religious Institutions

Agricultural

Relevant Teams

Legal

Real Estate

Operations

Facilities Management

Finance

Compliance

Risk Management

Property Management

Asset Management

Contract Administration

Business Development

Relevant Roles

Real Estate Manager

Property Manager

Legal Counsel

Compliance Officer

Facilities Manager

Asset Manager

Contract Administrator

Real Estate Director

Operations Manager

Chief Financial Officer

Risk Manager

Business Development Manager

Investment Manager

Leasing Manager

Company Secretary

Finance Director

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