Saudi Arabia has introduced a revised property ownership law permitting non-Saudis, including individuals and companies both inside and outside the Kingdom, to own and invest in real estate, marking a major shift in one of the region’s fastest-growing markets.
According to the Real Estate General Authority (REGA), the updated law aligns with the Kingdom’s broader economic transformation agenda, which aims to expand investment opportunities across multiple sectors as part of Vision 2030.
Officials said the legislation is intended to stimulate the real estate market, diversify project development, improve quality standards, create employment and strengthen urban planning and architectural benchmarks. The changes also bring Saudi regulations closer to global norms on foreign property ownership.
Under the new framework, foreign investors will be able to purchase property in developments, special economic zones and designated residential and commercial areas approved by the Council of Ministers. The law applies to both individual buyers and corporate entities, subject to regulatory conditions that safeguard economic and urban stability.
Saudi Arabia is currently undertaking large-scale urban development through mega-projects such as NEOM, Qiddiya and the Red Sea Global initiatives. While REGA has outlined key features of the new law, details on specific geographical zones and regulations will be released later on its website.
The move is expected to broaden international participation in the Kingdom’s property sector as it accelerates investment-led growth.
