Saudi Arabia’s Ministry of Investment has opened the door for foreign investors to buy and sell real estate in the country, marking a significant policy shift aimed at attracting international capital.
This opportunity is intended for investment rather than speculation, and is subject to specific requirements. Properties eligible for foreign ownership must be outside the holy cities of Makkah and Madinah. Purchases must not be made for commercial speculation, which involves high-risk trades for short-term profit.
Foreign companies can acquire real estate for uses such as personal residences, industrial operations, company headquarters, employee housing, and storage, but must first obtain official approval.
The process is streamlined: there are no service fees, applications are handled online, and approvals are typically issued within five business days.
Applicants must provide documentation, including a building permit or official statement of land use, and a copy of the property deed. For real estate development projects, companies must submit a certified engineering report showing a minimum investment of SR30 million for land and construction, with the project completed within five years and located outside the restricted cities.
This initiative is part of broader efforts to attract foreign investment and diversify the Saudi economy.