Foreign Ownership of Property Now Permitted in Saudi Arabia

Saudi Arabia has approved a new law permitting property ownership by non-Saudis, marking a significant policy shift aimed at supporting the diversification of the Kingdom’s economy. The decision was made during a Cabinet session chaired by Crown Prince and Prime Minister Mohammed bin Salman in Jeddah.

The move lifts longstanding restrictions on foreign ownership and is expected to help attract international investment in the real estate sector as part of Saudi Arabia’s broader Vision 2030 goals.

The approval of the new property ownership law follows a string of developments underscoring Saudi Arabia’s efforts to position itself as a competitive and open investment environment. Recent moves by multinational tech companies such as Amazon, Microsoft, and Google to establish regional headquarters in Riyadh reflect growing confidence in the Kingdom’s pro-business policies. Foreign investment has also surged in early 2025, surpassing SAR 3 trillion for the first time, with net inflows and direct investment both seeing significant gains.