The Real Estate Partnership Agreement serves as a fundamental legal instrument for establishing property-based partnerships in Saudi Arabia. It is primarily used when two or more parties wish to combine their resources, expertise, and capital for real estate ventures, whether for development, investment, or management purposes. The document must comply with both Saudi law and Sharia principles, incorporating specific requirements from the Real Estate General Authority (REGA) and other relevant authorities. It is particularly relevant in scenarios involving joint property development, shared investment in existing properties, or collaborative real estate management ventures. The agreement typically includes detailed provisions for capital contributions, profit-sharing, management responsibilities, and exit strategies, while ensuring all terms align with local regulations and Islamic finance principles.
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1. Parties: Identification of all partners, including full legal names, addresses, and registration details
2. Background: Context of the partnership, including the purpose and intent of the parties
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Partnership Structure: Legal form of partnership and ownership percentages
5. Property Details: Comprehensive description of the real estate assets involved
6. Capital Contributions: Details of initial and ongoing capital contributions from each partner
7. Profit and Loss Distribution: Framework for sharing profits and losses, including calculation methods
8. Management and Control: Decision-making processes and management responsibilities
9. Operating Expenses: Allocation and handling of partnership expenses
10. Banking and Financial Matters: Financial management procedures and banking arrangements
11. Transfer of Interests: Rules regarding the transfer of partnership interests
12. Term and Termination: Duration of partnership and termination procedures
13. Dispute Resolution: Procedures for resolving disputes between partners
14. Governing Law: Confirmation of Saudi law and Sharia compliance
15. Notices: Communication procedures between partners
1. Development Plans: Include when the partnership involves property development activities
2. Property Management: Include when the partnership will manage rental properties
3. Financing Arrangements: Include when external financing or mortgages are involved
4. Foreign Ownership Provisions: Include when any partner is a foreign entity
5. Zakat and Tax Provisions: Include detailed tax arrangements when partners have different tax statuses
6. Exit Strategy: Include specific exit mechanisms for complex partnerships
7. Force Majeure: Include when specific risk allocation for unexpected events is needed
8. Insurance Requirements: Include when specific insurance arrangements are necessary
1. Schedule 1 - Property Details: Detailed legal description of properties, including title deeds and location plans
2. Schedule 2 - Capital Contributions: Detailed breakdown of each partner's capital contributions
3. Schedule 3 - Profit Distribution Formula: Detailed calculation methods for profit sharing
4. Schedule 4 - Management Procedures: Detailed operational procedures and policies
5. Schedule 5 - Partner Information: Detailed partner information including KYC documentation
6. Appendix A - Property Valuations: Independent valuations of partnership properties
7. Appendix B - Required Permits: Copies of necessary permits and licenses
8. Appendix C - Bank Account Details: Partnership bank account information
Relevant legal definitions
Clauses
Relevant Industries
Real Estate Development
Property Investment
Commercial Real Estate
Residential Real Estate
Construction
Property Management
Real Estate Finance
Islamic Finance
Infrastructure Development
Urban Planning
Relevant Teams
Legal
Real Estate
Investment
Compliance
Finance
Business Development
Operations
Risk Management
Asset Management
Islamic Finance
Relevant Roles
Real Estate Director
Property Development Manager
Investment Manager
Legal Counsel
Chief Investment Officer
Real Estate Fund Manager
Partnership Manager
Compliance Officer
Property Portfolio Manager
Business Development Director
Real Estate Operations Manager
Islamic Finance Advisor
Asset Manager
Risk Management Officer
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