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Entity

Real Estate SERVICE
CHANGE MORTGAGE INSTRUMENT - ENTITY

This service enables the Master, Sub-developer or Broker to Modify Mortgage Instrument and Re-Issue Ownership Certificate for the Mortgaged property following the approved Mortgage rules and regulations by Economic Cities Authority

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  • Developer
    Mortgage Amount Modification:
  • 0.25% of Total Mortgage Value
    • Mortgage Duration Modification:
  • 500 Saudi Arabian Riyal
  • Power of Attorney or a delegation letter in case of third party representative of the current owner
  • National identification card for the Power of Attorney holder or delegated person
  • Master, Sub Developer’s ‘no objection’ certificate
  • Board of Directors mortgage approval, for companies wishing to register a mortgage on any of its owned real estate.
  • Mortgage contract and any additional related documents
  • Real estate evaluation report from a local certified evaluator, including a copy of valid commercial registration and license.
  • Mortgager Commercial registration
  • Investment license for Economic Cities entities
  • Power of Attorney or delegation letter in case of third party representative of the mortgagee.
  • In case of a delegate, a delegation letter should be attested by the Chamber of Commerce and Industry or ECA, as applicable
  • Provide all original documents for verification
  • Satisfying sales registration’s urban planning and municipal requirements as per the ‘Rules of Real Estate Sales in the Economic Cities, Chapter 3, Article 12’
  • Complete the Service ‘Register Mortgage’.
  • Five working days for complete application that fulfills all terms and conditions.
  • A new ownership certificate is issued with the mortgagor as owner, with an identification of the mortgagee.

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  • Address
  • Bay La San - 7082 Unit 2
  • King Abdullah Economic City 23964 - 2522 KSA

Copyright © ECZA 2017. All rights reserved. Powered by ECZA | Bay La San - 7082 Unit 2 King Abdullah Economic City - 23964 - 2522 KSA

+966 12 610 6700

Copyright © ECZA 2017. All rights reserved. Powered by ECZA | Bay La San - 7082 Unit 2 King Abdullah Economic City - 23964 - 2522 KSA

+966 12 610 6700