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Saudi Arabia Modernizes Real Estate Ownership for Non-Saudis, Boosting Investment and Economic Growth
Riyadh, Saudi Arabia – July 18, 2025 – In a significant development poised to enhance foreign investment and further stimulate economic diversification, the Council of Ministers has approved an updated regulation governing real estate ownership by non-Saudis. This landmark decision has been warmly welcomed by Mr. Majid bin Abdullah Al-Hogail, the esteemed Minister of Municipal and Rural Affairs and Housing, who expressed his profound gratitude to the Kingdom’s wise leadership for their foresight and commitment to progress.
The revised regulation represents a crucial step in Saudi Arabia’s ambitious Vision 2030, a comprehensive blueprint for economic and social reform. By streamlining and modernizing the framework for foreign property ownership, the Kingdom aims to attract a greater influx of international capital, expertise, and talent. This move is expected to invigorate the real estate sector, foster job creation, and contribute to the overall vibrancy of the Saudi economy.
Mr. Al-Hogail emphasized the strategic importance of this update, highlighting how it aligns with the nation’s ongoing efforts to create a more open and attractive investment environment. The updated rules are designed to provide clarity, certainty, and greater ease of access for foreign investors seeking to acquire property within the Kingdom. This proactive approach underscores Saudi Arabia’s dedication to building a dynamic and globally competitive economy.
The specific details of the updated regulation are anticipated to be released shortly, providing comprehensive guidance for non-Saudi individuals and entities interested in real estate investment. It is widely expected that the revised framework will address various aspects of property acquisition, including potential investment thresholds, types of properties available for ownership, and the administrative processes involved.
This forward-thinking initiative by the Saudi government signals a clear commitment to fostering international partnerships and welcoming foreign investment across key sectors. The modernization of real estate ownership regulations is a testament to Saudi Arabia’s progressive vision and its determination to achieve sustainable economic growth and prosperity for all.
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PR Newswire People Culture published ‘M. Al-Hogail remercie les dirigeants pour l’approbation par le Conseil des ministres de la mise à jour du règlement relatif à la propriété immobilière par des non-Saoudiens’ at 2025-07-18 15:26. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.