Saudi Arabia has updated its property ownership law, allowing non-Saudis to buy and invest in real estate, officials said. The move opens one of the region’s fastest-growing property markets to individuals and companies both locally and abroad, supporting the Kingdom’s broader economic expansion and Vision 2030 reforms.
The Real Estate General Authority (REGA) confirmed that the new framework is designed to stimulate the real estate market, raise project quality, create jobs for citizens, and improve urban and architectural standards.
The legislation also aligns with global practices for foreign ownership and aims to establish a secure, balanced investment environment.
Under the new law, foreigners can invest in residential, commercial, and agricultural land in areas approved by the Council of Ministers.
The regulations account for urban planning, economic stability, and sustainable growth.
Saudi Arabia is currently transforming its urban landscape with mega projects such as NEOM, Qiddiya, and Red Sea Global, which are expected to attract significant foreign investment.
REGA noted that further details, including geographic zones and investment regulations, will be released soon.
This policy marks a historic step in opening the Saudi real estate sector to global investors, reinforcing the Kingdom’s commitment to economic diversification and sustainable development.