For long leases, individuals and companies can begin the transfer process to a Musataha here.
Required Documents
An insurance certificate is required and must include the new Musateh’s name.
Business rules
The existing long lease can be active, and the user can also transfer an expired long lease contract.
The new Musataha must be locally owned or fully owned by a local company.
The plot must be owned by a government entity.
Applications that are not paid for within 30 days of approval will be canceled. From there, a new application must be initiated.
Service Fees
Transfer long lease contract to musataha Fees = (contract value x “1% industrial area or 2% all other areas”) + delayed payments + VAT (if applicable) + (rent amount + VAT)
Contract value = area sq.ft x no. of years x “0.75 AD or 0.5 Ain or 0.25 Dhafrah”