Heads up, real estate lovers and global investors…Saudi Arabia just made a major power move!

The Kingdom’s Cabinet, led by Crown Prince Mohammed bin Salman, has approved a brand-new law allowing non-Saudis to own property in certain areas!

Yep, you read that right! Starting soon, foreigners can jump into Saudi Arabia’s booming real estate market, unlocking fresh investment opportunities and sparking exciting deals. This game-changing decision comes after months of public consultation by the Ministry of Investment, which gathered valuable feedback on how to improve and streamline regulations around foreign ownership.

The goal? To boost efficiency, safeguard the market, and open up new avenues for growth, especially in vibrant cities like Riyadh and Jeddah.

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But wait, there’s a twist!

While foreigners will have the green light in key economic hubs, but special rules will apply for holy cities like Makkah and Madinah to protect their unique status

Majid Al-Hogail, the Minister of Municipal, Rural Affairs and Housing (and chairman of the Real Estate General Authority), highlighted how this law not only invites foreign direct investment but also supports housing development across the Kingdom — all while keeping citizens’ interests front and center. Now, the Real Estate General Authority (REGA) will work on defining the exact zones where foreigners can own property and roll out the detailed regulations soon. And for anyone curious, these new rules will be open for public consultation on the Istitlaa platform within 180 days.

Bottom line: Saudi Arabia is opening its doors wider than ever, welcoming the world to be part of its real estate boom.

Whether you’re dreaming of a luxury Riyadh apartment or a seaside retreat in Jeddah, the future just got a lot more exciting!