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| Foreigners allowed to buy property / Photo File (@GlobeEyeNews) |
Saudi Arabia has officially opened its rapidly expanding real estate market to international investors, marking one of the most significant regulatory changes in recent years. The move comes as part of the Kingdom’s Vision 2030 agenda, aimed at diversifying the economy and attracting global capital.
According to the Real Estate General Authority (REGA), the newly introduced framework permits both foreign individuals and companies to buy and invest in residential, commercial, and agricultural properties across the country. The updated law also applies to Saudi nationals and local firms, creating a unified and more transparent investment structure.
REGA stated that the purpose of the new regulations is to stimulate the property sector, boost construction quality, create employment opportunities, and align urban development with international standards.
Under the revised policy, foreign investors will be allowed to purchase real estate in areas designated and approved by the Saudi Cabinet. Detailed zoning guidelines, investment rules, and region-specific regulations will be released soon. The authority emphasized that factors such as urban planning, economic stability, and sustainable development are being prioritized in this framework.
Saudi Arabia is currently advancing several major megaprojects, including NEOM, Qiddiya, and Red Sea Global, all of which require substantial international investment. Experts believe that opening the local real estate market to foreign buyers will accelerate the progress of these multibillion-dollar projects and unlock new economic opportunities for the Kingdom.
REGA described this policy shift as a “historic milestone” for the Saudi real estate sector, adding that the decision will bring long-term benefits to construction, housing, and investment-related industries in the years ahead.
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