To: All Companies providing residential units rent services on the basis of Timeshare,
Subject: Suspension of Stand Permits.
RERA extends its warmest regards and thank you for your cooperation.
In reference to the abovementioned subject, and for the purpose of protecting the rights of all parties, we decided to cease the renewal or issuance of any new permits related to marketing the timeshare units as of to-date and till a Law on practicing such activity is issued, noting that the previously issued permits shall remain valid until the expiry of stand lease-contracts.
Ali Abdullah Al Ali
Director of Real Estate License Department
Date: Rajab 3, 1437 AH
Corresponding to: 10/04/2016