Saudi Arabia to Open Property Market to Foreigners in 2026
Starting January 2026, Saudi Arabia will allow non-Saudis to own property in designated areas as part of a newly approved law aimed at attracting foreign investment and enhancing the real estate sector.
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Key Details of the Law
The announcement came after the Saudi Cabinet approved the updated legislation, praised by Majed Al Hogail, Minister of Municipal and Affairs and Housing, as a significant step in the Kingdom’s real estate reform agenda. Al Hogail stated that the law aims to:
- Increase real estate supply
- Attract global investors and developers
- Stimulate foreign direct investment (FDI) in the Saudi market
He emphasized that the law includes safeguards to protect the interests of Saudi citizens, featuring strict procedural controls and designated geographic zones.
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Where Can Foreigners Buy?
Non-Saudis will be allowed to purchase real estate primarily in:
- Riyadh
- Jeddah
However, ownership in the holy cities of Mecca and Medina will have additional conditions and oversight.
Implementation and Regulations
The Real Estate General Authority will identify the specific areas where foreign property ownership is permitted and will issue executive regulations governing the process.
These regulations are expected to be made available for public consultation via the “Istitlaa” platform within 180 days of the law’s publication.
They will detail:
- Steps for foreign ownership
- Eligibility criteria
- Enforcement mechanisms
Alignment with Vision 2030
This new law complements existing regulatory frameworks, such as the Premium Residency Law and property ownership provisions for GCC citizens.
It reflects broader reforms under Saudi Arabia’s Vision 2030 strategy, which seeks to diversify the economy beyond oil and position the Kingdom as a global investment hub.
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