Simah to Launch New System to Protect Landlords and Tenants

Source: Arab News, 4th July 2012

The Saudi Credit Bureau (Simah) will launch new system to put a stop to the non-payment of rent by the end of 2014. “A number of stages have to be completed gradually before the system is operational,” said Simah’s General Manager Nabil Al-Mubarak.

The work includes devising new regulations on compiling data on the number of property owners leasing in the Kingdom, the number of offices and properties registered to each landlord and advising them on the statues of the new regulations regarding volume of activity and financial capital…