Land Acquisition Agreement Template for Saudi Arabia

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Key Requirements PROMPT example:

Land Acquisition Agreement

"I need a Land Acquisition Agreement for purchasing a 5,000 square meter industrial plot in Riyadh Industrial City for my manufacturing company, with completion planned for March 2025; the agreement needs to include specific provisions for future development rights and environmental compliance."

Document background
The Land Acquisition Agreement is a crucial document used in Saudi Arabian real estate transactions to formalize the purchase and transfer of land between parties. It is essential for any business or individual looking to acquire land in Saudi Arabia and must comply with both civil law requirements and Islamic (Shariah) principles. The agreement is particularly relevant given Saudi Arabia's Vision 2030 initiatives and increasing foreign investment in real estate. This document type is required for all land transfers and must be registered with the appropriate Saudi authorities, including the Land Registry Office and relevant Municipal Authority. The agreement typically includes detailed property descriptions, price and payment terms, warranties, and specific provisions addressing Saudi Arabian legal requirements, making it suitable for both domestic and foreign investors, subject to applicable ownership restrictions.
Suggested Sections

1. Parties: Identification of the seller and purchaser, including their full legal names, addresses, and registration details as per Saudi requirements

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

3. Definitions: Definitions of key terms used throughout the agreement, including property-specific and Saudi legal terms

4. Property Description: Detailed description of the land, including exact boundaries, dimensions, and deed numbers as per Saudi land registration requirements

5. Purchase Price: Purchase price, payment terms, and method of payment in compliance with Shariah principles

6. Completion: Process and requirements for completion of the transfer, including registration requirements with relevant Saudi authorities

7. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and compliance with Saudi law

8. Title and Registration: Provisions regarding transfer of title and registration process with the Saudi land registry

9. Shariah Compliance: Specific provisions ensuring compliance with Islamic law principles

10. Municipal Compliance: Confirmations regarding zoning, land use, and municipal regulations

11. Governing Law and Jurisdiction: Specification of Saudi law as governing law and Saudi courts' jurisdiction

12. Notices: Process for serving notices between parties as per Saudi legal requirements

Optional Sections

1. Foreign Ownership Provisions: Required when purchaser is a foreign entity, addressing specific requirements under Saudi foreign investment laws

2. Development Obligations: Include when the purchase involves undeveloped land with specific development requirements

3. Environmental Compliance: Required when the land has specific environmental considerations or requirements

4. Conditions Precedent: Include when completion is subject to specific conditions such as government approvals

5. Financing Provisions: Required when purchase involves Shariah-compliant financing arrangements

6. Due Diligence: Include when specific due diligence requirements need to be completed before completion

7. Force Majeure: Optional provisions for unforeseen circumstances affecting completion

Suggested Schedules

1. Property Plan: Official surveyed plan of the property as approved by Saudi authorities

2. Title Documents: Copies of existing title deed and registration documents

3. Payment Schedule: Detailed breakdown of payment installments and timing if applicable

4. Due Diligence Documents: List of required documents for due diligence review

5. Municipal Approvals: Copies of relevant municipal permits and approvals

6. Property Photographs: Recent photographs of the property and its boundaries

7. Completion Requirements: Checklist of documents required for completion and registration

8. Power of Attorney: If required, forms for power of attorney for registration purposes

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate Development

Construction

Industrial Manufacturing

Retail

Hospitality

Healthcare

Education

Logistics

Mining

Agriculture

Energy

Infrastructure Development

Religious Tourism

Commercial Property

Relevant Teams

Legal

Real Estate

Property Development

Corporate Development

Finance

Compliance

Facilities Management

Project Management

Risk Management

Business Development

Investment

Relevant Roles

Real Estate Director

Legal Counsel

Property Manager

Development Manager

Investment Director

Chief Financial Officer

Compliance Officer

Facilities Manager

Project Manager

Land Acquisition Specialist

Corporate Real Estate Manager

General Counsel

Risk Manager

Chief Executive Officer

Business Development Director

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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