Property Development Contract

Property Development Contract Template for Saudi Arabia

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Key Requirements PROMPT example:

"I need a Property Development Contract for a mixed-use commercial and residential complex in Riyadh, Saudi Arabia, with a project value of 500 million SAR and completion date of June 2025, including specific provisions for sustainable building standards and smart city integration."

Document background

The Property Development Contract serves as the primary legal instrument for executing property development projects in Saudi Arabia. It is essential for projects ranging from commercial and residential developments to industrial and mixed-use complexes. This contract type must comply with Saudi Arabian law, including the Saudi Building Code, Real Estate Law, and Environmental regulations, while adhering to Sharia principles. The document is typically used when a property owner engages a developer to undertake significant construction or renovation work, requiring detailed specifications, timelines, and quality standards. It includes crucial elements such as payment mechanisms, risk allocation, regulatory compliance requirements, and dispute resolution procedures specific to the Saudi Arabian jurisdiction.

Suggested Sections

1. Parties: Identification of the developer, owner, and their authorized representatives

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

3. Definitions: Defined terms used throughout the contract

4. Scope of Development: Detailed description of the development works, including specifications and standards

5. Contract Documents: Hierarchy and interpretation of contract documents

6. Developer's Obligations: Comprehensive list of developer's responsibilities and commitments

7. Owner's Obligations: Rights and responsibilities of the property owner

8. Time for Completion: Project timeline, milestones, and completion dates

9. Contract Price and Payment: Payment terms, schedule, and mechanisms

10. Quality and Compliance: Quality standards, inspections, and regulatory compliance requirements

11. Variations: Procedures for managing changes to scope or specifications

12. Testing and Completion: Completion criteria, testing procedures, and handover requirements

13. Defects Liability: Defects notification period and remedy procedures

14. Insurance and Liability: Required insurance coverage and liability allocation

15. Force Majeure: Events beyond parties' control and their consequences

16. Termination: Grounds and procedures for contract termination

17. Dispute Resolution: Procedures for resolving disputes under Saudi law

18. Governing Law: Confirmation of Saudi law as governing law and relevant jurisdictional matters

Optional Sections

1. Environmental Compliance: Required for projects with significant environmental impact, detailing environmental obligations and compliance requirements

2. Community Relations: For projects in populated areas, addressing community impact and mitigation measures

3. Technology and Smart Buildings: For modern developments incorporating smart technology or specialized systems

4. Cultural Heritage Protection: Required when development is near cultural or historical sites

5. Financing Arrangements: When project involves external financing or specific funding requirements

6. Phase-wise Development: For projects executed in multiple phases

7. Marketing and Sales: When developer has rights/obligations regarding property marketing

8. Sustainability Requirements: For green buildings or developments with specific sustainability goals

Suggested Schedules

1. Property Details: Legal description, title details, and site plans

2. Development Specifications: Detailed technical specifications and drawings

3. Payment Schedule: Detailed breakdown of payments and milestones

4. Project Timeline: Detailed project schedule with milestones

5. Quality Standards: Specific quality requirements and acceptance criteria

6. Required Permits: List of required governmental and regulatory approvals

7. Form of Warranties: Template warranties for materials and workmanship

8. Insurance Requirements: Detailed insurance specifications and coverage requirements

9. Environmental Standards: Environmental compliance requirements and standards

10. Testing Procedures: Detailed testing and commissioning procedures

11. Handover Requirements: Specifications for project handover and documentation

12. Approved Subcontractors: List of pre-approved subcontractors if applicable

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

Construction

Infrastructure Development

Commercial Property

Residential Property

Mixed-use Development

Industrial Development

Hospitality

Retail

Healthcare Facilities

Educational Facilities

Religious Facilities

Relevant Teams

Legal

Real Estate

Development

Construction

Project Management

Commercial

Finance

Operations

Compliance

Risk Management

Technical Services

Procurement

Relevant Roles

Chief Executive Officer

Development Director

Project Manager

Construction Manager

Legal Counsel

Contract Manager

Property Director

Real Estate Manager

Facilities Manager

Risk Manager

Commercial Director

Technical Director

Compliance Officer

Finance Director

Operations Manager

Find the exact document you need

Memorandum Of Understanding Between Landowner And Developer

A Saudi Arabian law-governed preliminary agreement between landowner and developer outlining proposed property development terms and cooperation framework.

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Let's create your Property Development Contract

Authors

Alex Denne

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