YaHind.Com News Desk
Riyadh, July 10, 2025: In a landmark decision, Saudi Arabia’s Cabinet, chaired by Crown Prince Mohammed bin Salman, has approved a new law permitting non-Saudis to own property in designated areas of the Kingdom, effective January 2026. This move, part of the Vision 2030 initiative to diversify the economy, aims to boost foreign direct investment and stimulate the real estate sector.
The legislation allows foreign individuals and entities to own residential, commercial, and agricultural properties in cities like Riyadh and Jeddah, with special restrictions for the holy cities of Makkah and Madinah due to their religious significance. The Real Estate General Authority (REGA), led by Minister Majed Al-Hogail, will propose specific zones for foreign ownership and publish executive regulations on the Istitaa platform within 180 days of the law’s publication in the Umm Al-Qura Gazette.
Al-Hogail emphasized that the law includes safeguards to ensure market stability and protect Saudi citizens’ interests, such as regulated conditions and geographic limitations. The reform is expected to increase property supply, attract global investors, and support major development projects like NEOM. Industry reports note a surge in real estate company shares on the Tadawul stock exchange, with some rising over 5% following the announcement.
This follows earlier relaxations, such as a 2021 directive allowing legal residents to own a single property with conditions. The new law is broader, aligning with Saudi Arabia’s goal to transform cities like Riyadh and Jeddah into global investment hubs, similar to Dubai’s real estate boom after its 2002 opening to foreigners.gulfnews.comgulfnews.com
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