Riyadh, June 25: In a major policy shift aimed at attracting global investment, Saudi Arabia has opened its real estate market to foreign buyers under a new legal framework that allows non-Saudis to own property in designated areas across the Kingdom.
The move operationalises the Foreign Real Estate Ownership Law, which came into force in January 2026, and forms part of Saudi Arabia’s ambitious Vision 2030 programme to diversify its economy, reduce dependence on oil revenues and boost foreign direct investment.
To facilitate the process, Saudi authorities have launched a dedicated digital platform, Saudi Properties, through which eligible foreign individuals and companies can apply to purchase real estate. Foreign residents holding a valid residency permit (Iqama) can submit applications online, while eligibility will be verified electronically through government records.
Under the new regulations, foreign individuals, companies and investment entities are permitted to own residential, commercial and industrial properties in approved locations, subject to conditions laid down by the government. The executive regulations also define the geographical areas where foreign ownership will be allowed and prescribe the procedures for obtaining approvals.
Foreign companies licensed to operate in Saudi Arabia will also be eligible to acquire properties required for their business activities, including office spaces, warehouses and industrial facilities.
However, the new law does not provide unrestricted access to all parts of the Kingdom. Property ownership in the holy cities of Mecca and Medina will continue to be governed by separate regulations and will remain subject to special restrictions and approvals.
Saudi officials say the reforms are designed to enhance transparency in the real estate sector, encourage international investment and support the rapid urban development taking place across the Kingdom. The policy is also expected to strengthen the housing and commercial property markets in major cities such as Riyadh, Jeddah and Dammam.
The opening of the property market marks another significant milestone in Saudi Arabia’s Vision 2030 reforms, which seek to transform the Kingdom into a global investment destination by expanding opportunities for international investors across key sectors of the economy.
