Saudi Arabia has updated its property ownership laws, allowing foreigners to purchase real estate across the Kingdom. This historic move opens a fast-growing property market to local and international individuals and companies, supporting Vision 2030 reforms and economic expansion.
The Real Estate General Authority (REGA) confirmed that the new framework is aimed at stimulating the real estate sector, enhancing project quality, creating jobs for Saudi citizens, and improving urban and architectural standards.
Scope of Foreign Ownership
Under the revised regulations, foreigners can invest in residential, commercial, and agricultural properties in areas approved by the Council of Ministers. While property ownership in Makkah and Madinah remains restricted to Muslims, the rest of the Kingdom is open for foreign buyers starting January.
The regulations account for urban planning, economic stability, and sustainable growth, ensuring a balanced and secure investment environment.
Mega Projects Driving Investment
Saudi Arabia is transforming its urban landscape with mega projects like NEOM, Qiddiya, and Red Sea Global. These initiatives are expected to attract significant foreign investment, enhance the real estate sector, and create new economic opportunities for residents.
By opening the market, the Kingdom aims to align with global foreign ownership practices while offering secure and transparent frameworks for investors.
Economic Diversification and Vision 2030
The policy reflects Saudi Arabia’s commitment to economic diversification and sustainable development. Encouraging foreign property ownership supports Vision 2030 objectives, which include attracting international investors, generating employment, and raising living standards.
Officials noted that further details on geographic zones, investment regulations, and eligibility criteria will be announced soon, providing clarity for prospective buyers.
Benefits for Investors
Foreign buyers can now participate in one of the region’s fastest-growing real estate markets. By investing in Saudi property, investors gain access to a stable, regulated environment while benefiting from rising demand in urban and suburban areas.
The move also allows investors to contribute to long-term urban planning, improve architectural standards, and engage in sustainable property development aligned with Saudi Arabia’s growth strategy.
Saudi Arabia’s decision to allow foreigners to buy property, including in select urban areas, marks a historic turning point for its real estate sector. The policy promotes foreign investment, economic diversification, and urban development while supporting the Kingdom’s Vision 2030 goals.
Investors and developers are encouraged to monitor upcoming regulations to take advantage of opportunities in residential, commercial, and agricultural property sectors across the Kingdom.
