Saudi Arabia is expected to allow foreign investors to purchase housing in the kingdom starting in 2026. This was reported by Bloomberg. This step is being taken within the framework of the "Vision 2030" strategic program to attract foreign investment and develop the country's economy in various directions.
Significant legislative changes
The government is currently in the process of making changes to the current legislation on real estate. The corresponding decree was signed in July of this year, and the new version is planned to come into force in January 2026.
The new document provides for the possibility of providing foreigners with the opportunity to purchase not only housing in four major centers of the country - Riyadh, Mecca, Medina, and Jeddah, but also commercial, industrial, and agricultural facilities, as well as land plots for construction in specially designated territories.
Special restriction for holy cities
According to Fahad Bin Suleiman, Executive Director of the Real Estate Registration Department, only Muslim citizens from abroad will have the right to purchase real estate in the two holy cities of Mecca and Medina. "The buyer must be Muslim, there will be no other strict barriers," he explained.
Also, the limited portion that foreigners can own in designated territories will be set from 70 to 90 percent.
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