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MAKKAH: The Saudi Cabinet recently approved an updated system that will allow non-Saudis to own property in the Kingdom, effective from January 2026.

Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail praised the leadership’s support for the initiative, describing the updated framework as a natural progression of real estate reforms designed to stimulate sector growth and encourage foreign direct investment, which will increase property supply by drawing investors and development firms to Saudi markets, the Saudi Press Agency reported.

The new regulations balance foreign investment opportunities with citizen protections through controlled market mechanisms and compliance procedures aimed at maintaining real estate equilibrium. Property ownership will be permitted in specific geographical zones, particularly Riyadh and Jeddah, while special conditions apply to ownership in Makkah and Madinah.

The General Authority for Real Estate will identify which geographic areas are open to foreign ownership. Implementation guidelines will be published on the Istitlaa platform within 180 days of the law’s publication in the official gazette, with full system activation scheduled for January 2026.

The comprehensive regulations will outline acquisition procedures for foreign nationals, enforcement requirements, and detailed application processes that consider both economic and social implications across all sectors.

The new system also aligns with the Premium Residency Programme, or Iqama, and the regulation of real estate ownership by Gulf Cooperation Council citizens, which permits cross-border property ownership for investment and residential purposes.

Hamad Al-Shuwaier, chairman of the National Valuation Committee at the Saudi Chambers Federation, told Arab News that the Cabinet’s approval signals strong support for real estate development initiatives.

“Foreign capital influx and international developer participation will enhance supply quality and market availability, creating the balanced marketplace we have been working toward,”  said Al-Shuwaier, who also serves as the chairman of the Saudi-Qatari Business Council, noting the sector’s role as an economic cornerstone supporting over 80 related industries.

The Saudi market offers compelling investment fundamentals backed by adaptable regulations and profitable opportunities for domestic and international investors alike, positioning the Kingdom to capitalize on Vision 2030 momentum.

Real estate specialist and certified marketer Badr Al-Sulaimani emphasized the strategic importance of utilizing ����ֱ��’s extensive territory, noting that current development covers just 0.36 percent of the Kingdom.

“These regulations demonstrate the government’s commitment to maximizing natural and geographical assets to achieve Vision 2030 targets, while preparing infrastructure for major international events including Expo 2030 and the 2034 World Cup,” Al-Sulaimani explained.

Real estate expert Fawaz Assiri highlighted the updated system’s role in enhancing market attractiveness through increased foreign direct investment flows that will diversify property offerings and improve supply dynamics.

Precise geographical boundaries and specialized requirements for holy cities, especially in Makkah and Madinah, ensure market stability while protecting citizen interests, he noted.