Saudi Arabia’s State Properties General Authority (SPGA) issues new regulations allowing government bodies to rent properties abroad for a maximum of 10 years, Invest-Gate reports.

The regulations stipulate that the lease contract shall be for a period not exceeding five years, with the possibility to renew that contract for a maximum period of 10 years.

Saudi government agencies could rent properties outside the kingdom upon necessity, which requires financial appropriation for renting the property in the government agency’s budget.

Government agencies are required to coordinate with SPGA to make sure that there is no real estate available for the state that meets its needs and that the real estate shall be allocated for the purpose for which it was rented.