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Saudi Arabia will open its real estate market to foreign buyers starting January 2026, a move approved by the Saudi Cabinet. Non-Saudis can purchase property in designated zones like Riyadh and Jeddah, though Mecca and Medina will have extra regulations. This decision is part of Vision 2030, aiming to attract foreign investment and diversify the economy. The Real Estate General Authority will release detailed regulations within 180 days, covering eligibility and enforcement. The policy seeks to increase real estate supply and stimulate foreign direct investment.
Saudi Arabia has recently decided to open its real estate market to foreign buyers. This new law, approved by its Cabinet, will take effect starting in January 2026. The move impacts designated zones across the Kingdom, as it is part of a broader strategy to attract foreign investment and diversify its economy. Advertisement
Under the new law, non-Saudis will be permitted to purchase property in designated zones, which include major cities like Riyadh and Jeddah. However, ownership in Mecca and Medina will be subject to additional regulatory conditions due to their religious significance.
The Real Estate General Authority is tasked with identifying eligible geographic areas for foreign ownership. The Authority will release detailed executive regulations within 180 days of the law's publication. These regulations will cover the application process, buyer eligibility, and enforcement mechanisms, and will be open for public consultation.
This decision is a key part of the Kingdom's broader strategy to attract foreign investment and diversify its economy away from oil, aligning with Vision 2030.
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