In a landmark reform that reflects the Kingdom’s increasing openness to global investment, new legislation has been enacted allowing foreign individuals and entities to own real estate across the country — including residential, commercial, and agricultural properties.
This progressive move is part of a broader economic and regulatory reform agenda aimed at boosting the real estate sector and enhancing market competitiveness.
Under the new law, foreigners will be permitted to purchase property in various regions of the Kingdom, including major cities such as Riyadh, Jeddah, and Dammam, without the need for a local partner or sponsor.
This marks a significant departure from previous restrictions and signals a transformative shift in the structure of the property market.
The law includes a set of conditions and regulatory safeguards designed to protect public interest and ensure sustainable development.
The Ministry of Municipal and Rural Affairs and Housing has emphasized that the new policy will stimulate urban growth, diversify the investor base, and maintain a balance between domestic housing needs and foreign investment opportunities.
The legislation is expected to enhance transparency, attract greater foreign capital into the real estate sector, and drive construction and development activity.
It also presents new opportunities across related sectors such as engineering, construction, property management, and real estate services.
This development aligns with the Kingdom’s Vision 2030 objectives to diversify the national economy, modernize legislative frameworks, and strengthen its position as a regional hub for investment, residence, and quality living.
