Saudi Minister of Municipal Affairs Majid bin Abdullah Al-Hogail said that Saudi King Salman bin Abdulaziz, Crown Prince of Mohammed bin Salman agreed to exempt investors from paying 25% of the rental value of municipal real estate leases for that year, equivalent to three months' salary.
This was reported by Saudi newspapers today, Sunday, noting that the minister made clear that this generous support is part of the state's unlimited support to mitigate the effects of the Corona epidemic on the private sector and protect investors .
The minister said: "The approval includes exempting all investors, as well as secretariats and municipalities, from economic activities affected by the Corona epidemic."
He added, "The number of beneficiaries of this generous approval exceeds 50,000 economic establishments, with exemptions estimated at more than 570 million riyals."