Saudi Arabia has now allowed foreign investors to own and sell real estate across the Kingdom, the Ministry of Investment announced. However, properties must lie outside Makkah and Madinah’s holy boundaries. The ministry strictly prohibits commercial speculation, which involves rapid asset trading for short-term profit.
Key Conditions for Ownership Approval
Foreign firms must secure ministry approval to own real estate for residences, industrial facilities, administrative offices, employee housing, or warehouses. Investors must avoid speculative practices and adhere to location restrictions. Furthermore, the ministry confirmed no financial fees apply for this service. Applicants receive approvals within five business days via its e-portal, streamlining access for global investors.
Additionally, investors must submit a municipality building permit, land-use statement from official authorities, or property deed copies. Real estate developers must also provide an engineering cost report accredited by the Saudi Council of Engineers.
Projects require a minimum investment of SR30 million for land and construction. Developers must utilize acquired land within five years and ensure all properties fall outside Makkah and Madinah.
This move aligns with Vision 2030 goals to diversify the economy and attract global capital. By opening real estate sectors, Saudi Arabia reinforces its position as a competitive hub for sustainable foreign investment.
