Municipal properties are leased through public competition, direct leasing, or open public bidding, in accordance with the Municipal Properties Disposal Regulation issued under Royal Decree No. 40152, dated 29/6/1441 H, and the associated instructions, guidelines, and directives.
A bank guarantee is not released until the award has been made to the investor. This is processed by the offering entity associated with the opportunity to which the bid was submitted.
The financial auditor submits the annual financial statements for the project and determines the total revenues, based on which the entity's entitlements are calculated.
The maximum duration of a temporary lease contract is 180 days. It may be extended for an additional 180 days if no other requests have been submitted for the same site.
The bank guarantee must remain valid for at least 3 months after the date of envelope opening.
1. A payment due reminder one month before the due date. 2. A payment due notice on the due date, requiring payment within 30 business days. 3. A final contract termination warning 30 days after the due date if payment is not made within 15 business days. 4. A claims notification.
Approve, reject, or return for amendment.
Approve, reject, return for amendment, or verify site ownership.
The type of bank guarantee required is determined by the offering entity.
The available models include: annual value, highest income sharing percentage with a fixed term, sharing percentage and term determined by the investor, and models that include a guaranteed minimum with a sharing percentage.
Opportunities that have been approved, modified, or extended.
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