Q. Many Muslims purchase flats in Saudi Arabia on a 99 year lease. Is it allowed for Muslims to lease out flats and take out flats leases for such lengthy periods?
A. In principle, it is permissible for a lessor/landlord to lease a flat/property to a lessee/tenant on fixed short-term period or long-term period. Hence, a ninety-nine year lease agreement between lessor and lessee will also be permissible. (Al-Mabsoot 15/132)
Allah Ta’ala Knows Best
Mufti Ismaeel Bassa
This answer was collected from TheMufti.com, which is a fatwa portal managed by Mufti Ismaeel Bassa from South Africa.