Saudi Arabia opens property market to foreign ownership under new real estate law

RIYADH:

Saudi Arabia has introduced an updated law allowing non-Saudis to own and invest in property, opening the door for individuals and companies at home and abroad to enter one of the region’s fastest-growing real estate markets. The move comes as the Kingdom accelerates its economic and investment expansion, seeking to attract wider global capital.

According to the official Real Estate General Authority (REGA), the Kingdom updated property ownership law comes as the KSA pushes ahead with a broad economic transformation, marked by rapid development and expanding investment prospects across multiple sectors.

Officials say the legislation is designed to stimulate the real estate market, diversify and raise the quality of projects, create jobs for citizens, and enhance urban and archit