Foreigner real estate ownership rules a boost for investment, say ministers after Cabinet approval
RIYADH: New regulations governing non-Saudi ownership of real estate will boost business expansion and competitiveness of the Kingdom’s investment environment, ministers have said.
The changes, including the geographical zones for non-Saudi real estate ownership, were approved by the Cabinet — chaired by Custodian of the Two Holy Mosques King Salman bin Abdulaziz — on June 23.
The move comes as Saudi Arabia’s real estate sector is experiencing rapid growth, underpinned by the Kingdom’s Vision 2030 economic transformation agenda. The market, valued at around $77 billion in 2025, is projected to nearly double to $141.6 billion by 2034, growing at a compound annual growth rate of 6.73 percent, according to IMARC Group.
Commerce Minister Majid Al-Qasabi was among the first to react, and in a post on X said the issuance of the regulations would serve as “a strong catalyst for companies to expand their businesses and enhance competitiveness,” as well as a key enabler for attracting global talent.
