Foreign investors will be able to buy properties in the holy cities of Mecca and Medina, including Riyadh and Jeddah, and the regulations of the new laws will be issued soon
Qaiser Manzoor Chaudhry, Daily Dawn, Dawn TV Report
Jeddah: For the first time, the most important country in the Arab world, Saudi Arabia, has announced that it will allow foreigners to buy property in specific areas.
Until now, no foreigner was allowed to buy property and invest there in Saudi Arabia.
According to the new laws, which will come into effect from January 2026 next year, foreigners will be able to buy property in specific areas.
According to the Arab newspaper ‘Gulf News’, the aforementioned development is part of the Saudi government’s broader efforts to promote investment and expand the real estate sector.
The aforementioned law was introduced after the approval of the Saudi cabinet, which was appreciated by Majid Al-Haqeel, Minister of Local Government Affairs and Rural Development and Chairman of the General Authority for Real Estate.
He described the law as “a continuation of the kingdom’s comprehensive real estate reform agenda.”
The new law will allow foreigners to buy property in specific areas of major cities such as Riyadh and Jeddah.
According to the law, property ownership in the holy cities of Mecca and Medina will be subject to additional conditions and strict regulations.
The Real Estate General Authority will have the authority to identify areas where foreigners can buy property.
The authority will issue implementing regulations for public consultation on an online platform within the next 180 days, which will include ownership procedures for foreigners, eligibility principles, and monitoring systems, in order to maintain harmony between economic development and social balance.
The new law is consistent with Saudi Arabia’s Premium Residency Law and existing regulations on property rights for citizens of Gulf countries.
The move is part of broader reforms under Vision 2030, which aims to move the economy away from oil dependence and make Saudi Arabia a global investment hub.
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