Article 15 of the Saudi Real Estate Finance Law

This article sets the date of entry into force of the Real Estate Finance Law: it takes effect 90 days after the date of its publication in the Official Gazette.

This means:

• The law does not apply merely because it was issued, nor merely because it was published.
• What matters is the passing of 90 days from the date of publication in the Official Gazette.

The article does not state the publication date itself, and does not address the status of contracts concluded before the law came into force, so the law's effect on those contracts cannot be inferred from its text alone.

This article is connected to Article 14, under which the Agency prepares the Implementing Regulations, which are issued by decision of the Minister of Finance within 90 days of the date the law is issued, and take effect after the law comes into force. There are thus two periods that differ in their starting point: the period for issuing the Implementing Regulations is counted from the date of issuance, the period for the law to come into force is counted from the date of publication, and the Implementing Regulations take effect only after the law comes into force.

If you have an older finance contract and want to know whether the law's provisions apply to it, you can consult a lawyer specializing in banking and real estate finance.