Saudi Arabia is moving ahead with major real estate reforms that will allow foreign nationals to own property across a broad range of categories starting January. The Real Estate General Authority (REGA) confirmed that residential, commercial, agricultural and industrial assets — along with land for development — will now be open to non-Saudis.
Designated zones in Riyadh, Jeddah, Mecca and Madinah are in the final stage of review and will be announced soon with the complete regulatory framework. According to Fahad BinSulaiman, executive director for non-Saudi ownership at REGA, these zones will be extensive and include several mega-projects. Foreign ownership in these areas is expected to be allowed up to 70 to 90 per cent.
He clarified that only Muslims will be eligible to buy property in the two holy cities, while the rest of the Kingdom will carry minimal restrictions. The upcoming regulations mark a significant shift from existing laws and aim to make the market more accessible to global investors.
The overhaul, approved in July, aligns with Saudi Arabia’s Vision 2030 strategy and comes at a time when the Kingdom is pushing to attract companies, skilled talent and capital. With housing supply under pressure in Riyadh, the real estate sector has become a priority for policymakers. Parallel efforts are underway to ease capital market rules, including allowing majority foreign ownership of listed stocks.
To support the transition, REGA has introduced the Saudi Properties portal, which will showcase eligible assets and clearly map foreign ownership zones. The authority says the new framework is designed to open the market while keeping investment risks balanced.
“Our aim is simple: make it easier for foreigners to visit, invest, and participate in Saudi’s growing real estate market,” BinSulaiman said.
