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RIYADH: Saudi Arabia has approved a new law that will allow foreigners to buy and own property in the country. The law will start in January 2026.
Foreigners will be able to buy property in big cities like Riyadh and Jeddah. But in Mecca and Medina, there will be special rules. The government will decide which areas in those cities foreigners can buy in.
This change is part of Saudi Arabia’s Vision 2030 plan to grow the economy and bring in more foreign investment. The government hopes this will make it easier for investors to enter the real estate market.
Officials say that allowing foreigners to own property will help develop the housing sector and create new jobs. It will also support other industries connected to real estate, such as construction and services.
The government will set clear rules to protect both foreign buyers and local interests. They want to make sure the new law benefits the economy while respecting Saudi Arabia’s social and cultural values.
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