Approval of Ownership Documents Issued by the Economic Cities Authority
| No: 331000025450 | Date(g): 21/10/2012 | Date(h): 6/12/1433 |
Translated Document
SAMA received the letter of His Excellency the General Secretary of the Economic Cities Authority No. 190 dated 2/1/1433 H and No. 435 dated 12/7/1433 H and No. 525 dated 17/10/1433 H regarding the Authority's request to direct banks operating in the Kingdom to adopt the ownership document issued by the Economic Cities Authority for any property or land within the Economic Cities in accordance with Article (Fourteen) of the Economic Cities Organization issued by Royal Decree No. A/19 dated 10/3/1431 H and to adopt it as an official approved ownership document.
Accordingly, SAMA hopes that all banks operating in the Kingdom will adopt the title deed issued by the Economic Cities Authority for any owner of real estate or land inside the economic cities and adopt it as an official approved ownership document that replaces the approved title deed outside the economic cities.