Saudi Arabia: New Law To Allow Foreigners To Purchase Various Properties

By Rana Attia On Mar 27, 2023

The kingdom just announced today, Monday 27, a new law that would allow foreigners the opportunity to purchase various properties.

Varying from real estate to commercial property, non-Saudi nationals soon can purchase properties across all of Saudi including Makkah and Madina.

Abdullah Alhammad, CEO of the Real Estate General Authority (REGA) said, “the negative effects of foreign ownership of the property were monitored in advance so as to avoid them, and solutions were developed for all problems and unacceptable practices.”

This novel law comes as part of the Kingdom’s Vision 2030 following a strong price hike for the last two years.

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Rana Attia

Rana Attia holds a Literature BA in Cinema Studies from the American University in D.C. With an affinity for writing and all things arts-related, she’s a bookaholic with copious books to keep track of. A night owl as she’s too busy daydreaming of the scripts and novels she’ll one day write. When she’s not reading or watching films, she’s on the hunt for the next best Chinese food place.

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