Saudi Arabia has announced a major update to its property ownership laws, allowing non-Saudis to buy and invest in real estate across the Kingdom, starting January. The reform opens one of the region’s fastest-growing property markets to both individuals and companies, supporting the Kingdom’s economic expansion and Vision 2030 reforms.
The Real Estate General Authority (REGA) confirmed that the new framework aims to boost the real estate market, improve project quality, create jobs for citizens, and enhance urban and architectural standards. Foreign investors will be allowed to purchase residential, commercial, and agricultural properties in designated areas, while Mecca and Madinah remain restricted to Muslims. The regulations consider urban planning, economic stability, and sustainable growth, aligning with international best practices.
This move coincides with Saudi Arabia’s mega projects, including NEOM, Qiddiya, and Red Sea Global, which are expected to attract significant foreign investment, marking a historic step toward economic diversification and global integration.
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