The Commercial Property Purchase Agreement is a vital legal instrument used in Saudi Arabia for facilitating the acquisition of commercial real estate. This document is essential when businesses seek to purchase commercial properties such as office buildings, retail spaces, warehouses, or industrial facilities. It must comply with Saudi Arabian real estate laws, including the Real Estate Registration Law, Foreign Investment Law (for foreign buyers), and relevant municipality regulations. The agreement covers crucial elements such as property specifications, purchase price, payment terms, warranties, and transfer procedures, while ensuring adherence to Sharia principles. It's particularly important in protecting both parties' interests by clearly defining their rights and obligations throughout the transaction process.

1. Parties: Identification of the seller and purchaser, including full legal names, commercial registration numbers, and authorized representatives

2. Background: Context of the transaction, including brief description of the property and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the commercial property, including exact location, boundaries, and size

5. Purchase Price: Agreed purchase price, payment terms, and method of payment

6. Payment Terms: Schedule of payments, including deposits, installments, and final payment details

7. Conditions Precedent: Conditions that must be satisfied before completion of the purchase

8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, condition, and legal status

9. Buyer's Representations and Warranties: Buyer's declarations regarding legal capacity and financial ability to complete the purchase

10. Completion: Process and requirements for completing the transaction

11. Registration and Transfer: Requirements and procedures for property registration and transfer of ownership

12. Taxes and Fees: Allocation of responsibility for various taxes, fees, and charges

13. Default and Remedies: Consequences of default by either party and available remedies

14. Governing Law and Jurisdiction: Confirmation of Saudi law as governing law and jurisdiction for disputes

15. Notices: Process and requirements for formal communications between parties

16. General Provisions: Standard legal provisions including entire agreement, amendments, and severability