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Asharq Al-Awsat
Asharq Al-Awsat
Business
Riyadh - Bandar Al-Mosalam

Law on Real Estate Ownership and Investment by Non-Saudis Amended to Boost Competitiveness

Saudi Arabia amends law to enable non-Saudis own and invest in real estate (Asharq Al-Awsat)

Saudi Arabia amended the Law on Real Estate Ownership and Investment by non-Saudis to increase and improve the efficiency and effectiveness of the procedures and controls related to the ownership or use of real estate by foreigners, who enjoy natural and legal capacity in cities and economic zones in the Kingdom targeted for development, including the cities of Makkah and Madinah.

The proposed amendment enhances the competitiveness and marketing capacity of real estate in the Kingdom and stimulates growth in other economic sectors.

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