Saudi Arabia Approves New Property Ownership Law for Foreigners
Cabinet vote clears path for non-Saudis to purchase real estate in the Kingdom.
The Saudi Cabinet approved a new law regulating property ownership by non-Saudis, marking a significant shift in the country's foreign investment policies.
This decision aims to attract more international capital into the kingdom's real estate sector and enhance economic growth through increased participation from overseas investors.The Cabinet meeting, chaired by Crown Prince Mohammed bin Salman, acknowledged the global implications of this change, emphasizing that the new law aligns with Saudi Arabia's efforts to boost its economy and diversify its sources of income.
The country has been implementing Vision 2030, a comprehensive plan aimed at reducing the kingdom's dependence on oil revenue and fostering a more diverse economic landscape.The approval of property ownership for foreigners is seen as a major step towards opening up Saudi Arabia's real estate market to international investors and expatriates who have previously faced restrictions in purchasing properties.
The move reflects an understanding within the government that such changes could contribute positively to economic development by encouraging foreign investment, enhancing urban development, and meeting growing housing demands.As part of its commitment to global cooperation, the Cabinet reviewed Saudi Arabia's contributions to international economic growth and reaffirmed its dedication to multilateral efforts aimed at market stability.
The kingdom continues to play an active role within OPEC+, contributing to agreements that manage oil production levels in a bid to stabilize global petroleum markets.The upcoming 21st General Conference of the United Nations Industrial Development Organization (UNIDO), set to take place in Riyadh this November, is another testament to Saudi Arabia's commitment to international collaboration.
The conference will focus on developing solutions for sustainable manufacturing and technological advancement, areas that are critical to future economic growth.Other notable actions from the Cabinet include the adoption of a resolution led by Saudi Arabia at the UN Human Rights Council aimed at protecting children in the digital space.
This initiative is part of a broader global campaign to create safer online environments for young people worldwide.Saudi Arabia's leadership in cybersecurity was also recognized, as reported in the 2025 World Competitiveness Yearbook.
The country continues to invest significantly in technology and international partnerships, reinforcing its position as a leader in this field.The Cabinet praised recent efforts against narcotics, highlighting successful operations against organized crime networks involved in illicit drug trafficking.
These initiatives aim to safeguard public health and safety within the kingdom.Other decisions from the session include updates to the National Transport and Logistics Strategy, organizational changes at the General Authority for Irrigation, and Saudi Arabia's adoption of World Drowning Prevention Day, observed annually on July 25.Furthermore, a directive was issued for the Social Development Bank to implement a guarantee program targeting the country's most vulnerable financial groups.
This program is designed to facilitate access to financing from banks and other financial institutions, thereby supporting economic inclusion in Saudi Arabia.
This decision aims to attract more international capital into the kingdom's real estate sector and enhance economic growth through increased participation from overseas investors.The Cabinet meeting, chaired by Crown Prince Mohammed bin Salman, acknowledged the global implications of this change, emphasizing that the new law aligns with Saudi Arabia's efforts to boost its economy and diversify its sources of income.
The country has been implementing Vision 2030, a comprehensive plan aimed at reducing the kingdom's dependence on oil revenue and fostering a more diverse economic landscape.The approval of property ownership for foreigners is seen as a major step towards opening up Saudi Arabia's real estate market to international investors and expatriates who have previously faced restrictions in purchasing properties.
The move reflects an understanding within the government that such changes could contribute positively to economic development by encouraging foreign investment, enhancing urban development, and meeting growing housing demands.As part of its commitment to global cooperation, the Cabinet reviewed Saudi Arabia's contributions to international economic growth and reaffirmed its dedication to multilateral efforts aimed at market stability.
The kingdom continues to play an active role within OPEC+, contributing to agreements that manage oil production levels in a bid to stabilize global petroleum markets.The upcoming 21st General Conference of the United Nations Industrial Development Organization (UNIDO), set to take place in Riyadh this November, is another testament to Saudi Arabia's commitment to international collaboration.
The conference will focus on developing solutions for sustainable manufacturing and technological advancement, areas that are critical to future economic growth.Other notable actions from the Cabinet include the adoption of a resolution led by Saudi Arabia at the UN Human Rights Council aimed at protecting children in the digital space.
This initiative is part of a broader global campaign to create safer online environments for young people worldwide.Saudi Arabia's leadership in cybersecurity was also recognized, as reported in the 2025 World Competitiveness Yearbook.
The country continues to invest significantly in technology and international partnerships, reinforcing its position as a leader in this field.The Cabinet praised recent efforts against narcotics, highlighting successful operations against organized crime networks involved in illicit drug trafficking.
These initiatives aim to safeguard public health and safety within the kingdom.Other decisions from the session include updates to the National Transport and Logistics Strategy, organizational changes at the General Authority for Irrigation, and Saudi Arabia's adoption of World Drowning Prevention Day, observed annually on July 25.Furthermore, a directive was issued for the Social Development Bank to implement a guarantee program targeting the country's most vulnerable financial groups.
This program is designed to facilitate access to financing from banks and other financial institutions, thereby supporting economic inclusion in Saudi Arabia.
