The government of Saudi Arabia has enacted a new law permitting non-Saudis to own property in certain markets across the kingdom.
The new law, which goes into effect in January 2026. According to a report in Construction Business News, non-Saudis will be able to acquire property mostly in urban centers such as Riyadh and Jeddah. However, properties in the holy cities Makkah and Madinah will not be open to foreign buyers.
Majid Al-Hogail, minister of municipal, rural affairs and housing and chairman of the Real Estate General Authority (REGA), said the new law is designed to increase foreign direct investment while strengthening housing market stability. The new law is being presented as meeting the objectives of the kingdom’s Vision 2030’s economic diversification objectives.
