1. Is it possible to renew investment contracts?

Only large investment projects are allowed to be renewed providing the rental value is estimated every ten years.

2. What are the requirements for renting fish units/stalls?

The applicant should be a member of the trade/profession and submit proof of this with the request.

3. What are the types of investment projects available?

Kiosks, animal slaughterhouses, parks, car tracks, Baleela (chickpea) spots, self-service machines, parking, cafeterias, markets and shopping malls, and advertising billboards.

4. Is it possible to change the activity mentioned in the contract?

The activity mentioned in the contract cannot be changed at all according to the 9th Article of the Rules of the Disposition of Municipal Real Estate.

5. Is it possible to award the auction if there was just a single tender?

It could be awarded if the tender was the sole bidder on the condition that the value of the tender was appropriate.

6. Do you require the tender to be awarded to the highest bidder?

The auction is given to the highest bidder if the bidding value is appropriate and has met all the requirements and documentation required.

7. What is the procedure if the highest bidder is to withdraw from the bidding?

In the event of the withdrawal of the highest bidder, the bank guarantee provided by him/her is confiscated and negotiation starts with the second bidder to raise the value of the bid.

8. Can the investor withdraw from the site before the end of the contract?

The investor is entitled to withdraw from the site before the end of the contract in the case of the approval of the Jeddah Municipality, providing he/she is committed to paying the rent owed until the date the Jeddah Municipality receives the site from him/her.

9. What is the date of the commencement of the contract?

The contract is effective from the date of handing over the site to the investor under an official record providing this is not more than one month from the date of the contract. The handing over the site to an investor in absentia happens in the event of him/her not attending to receive the site in a timely manner.

10. What are the requirements for entering bids?

• To hold a valid trade/commercial registration
• To apply for the purchase of the portfolio and to specify the type of bidding auction on an officially-headed institution or company paper
• To hold a license from the concerned authority for some auctions
• To submit the bid in a sealed envelope at the agreed time to open envelopes
• To attach the bid to a bank guarantee equivalent to the rental of the first year

11. Is the investor exempt from the payment of rent for the implementation period?

Investors are exempt from the payment of 5% of the rental period. This is an exemption from rent not from the contract duration for establishment or processing.