Legal Regulations for Commercial Real Estate Transactions in the Kingdom of Saudi Arabia In Light of Digital Transformation and Vision 2030

Abstract

Abstract: In recent years, the Kingdom of Saudi Arabia has witnessed legislative transformations within the framework of Vision 2030, aimed at achieving sustainable development and building a sustainable economy. This includes adopting digital transformation in judicial, commercial, and investment procedures and services. This transformation has contributed to the governance of the real estate investment sector and the establishment of an integrated real estate system, encouraging investors to enter the real estate investment market. This transformation is embodied in the establishment of a legal governance system that integrates digital transformation with real estate authorities in regulation, development, and oversight. This has been accompanied by the issuance of several real estate legal regulations serving both civil and commercial transactions. These regulations aim to build a robust legal and regulatory framework for real estate in the Kingdom of Saudi Arabia, guaranteeing the rights of all stakeholders. Based on this, this study, entitled "The Legal Regulation of Commercial Real Estate Transactions in the Kingdom of Saudi Arabia in Light of Digital Transformation and Vision 2030," highlights the importance of the study's focus on the legal rules governing the real estate investment sector. The study aims to identify modern commercial real estate regulations and therefore employs a descriptive, analytical, and comparative approach through in-depth analysis of these real estate regulations. The modern Saudi commercial character is relevant, and the bodies related to real estate governance and real estate management are among the most important results that the study reached, which is that the Saudi legal system has strengths represented in clear legal legislation supported by digital transformation. One of the most important recommendations is the need to develop the mechanism of judicial oversight of commercial real estate, through the establishment of specialized judicial circuits within commercial courts to consider disputes related to real estate transactions, in line with the legislative development and digital transformation of the commercial sector.