Saudi Arabia to allow foreigners to own property from January 2026

Saudi Arabia's law specifies rules applicable to foreign ownership and compliance and protects Saudi citizens
An undated image of Saudia Arabia. — Canva
An undated image of Saudia Arabia. — Canva 

Saudi Arabia has approved a new real estate law that will allow foreigners to own property within the kingdom starting January 2026. 

The law is part of the country's real estate reform initiatives associated with Vision 2030 as a means to acquire foreign direct investment and increase housing supply in cities such as Riyadh and Jeddah.

However, property ownership in Makkah and Madinah will be governed by specific regulations and conditions.

Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail stated that the transformed real estate framework is a natural development of the real estate reforms, demonstrating the leadership's commitment to the growth of the sector.

According to the Saudi Press Agency, the General Authority for Real Estate will publish an initial list of areas that are designated for foreign ownership. 

Moreover, the detailed implementation guidelines for the law will be published within 180 days of the announcement of the law in the official gazette on the Istitlaa platform.

The law specifies the rules applicable to foreign ownership and compliance and protects Saudi citizens. It supports the Premium Residency (Iqama) Programme, and also supports other existing laws connected to the Gulf Cooperation Council (GCC) examining the potential investment in Saudi Arabia's real estate.

Real estate marketer Badr Al-Sulaimani highlighted that only 0.36% of Saudi land is currently developed. He said the new law will help maximise the Kingdom’s vast land potential ahead of global events like Expo 2030 and the 2034 FIFA World Cup.