The Communications and Information Technology Commission (CITC) has updated the IMT regulatory document in furtherance of its National Spectrum Strategy, which aims to unlock the potential of radio spectrum in Saudi Arabia by 2025 for a smarter and safer future. The updated regulatory IMT document is part of the implementation plan for CITC's Spectrum Outlook for Commercial and Innovative Use 2021-2023. This further strengthens CITC's strategic transition towards the role of a "Digital Regulator", and it is an expression of CITC's continuing support for the Kingdom's transformation into a digital society, with the aim of achieving a global leadership position in the field of radio communications and wireless technologies. CITC has identified an additional 4 GHz of spectrum for use by 5G technologies and has also set a timeframe for the release of this additional spectrum to the market, which will take place through two auctions over the period 2021-2023. These auctions will advance the kingdom's position in terms of the amount of spectrum assigned for IMT use. This spectrum release will also support telecommunication networks, enable 5G technologies, and improve internet experience and speeds for consumers throughout the kingdom. This new IMT regulatory document introduces a range of novel economic approaches to maximize the benefits of IMT spectrum for the communications sector and society. These include spectrum trading and secondary markets, and the adoption of a spectrum light licensing scheme. These measures will improve spectrum availability to users and promote efficient use of the national spectrum resource.