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Investment Minister on Non-Saudis’ Property Rights
The Minister of Investment, Fahad bin Abdul Jaleel Al-Sif, announced that the Cabinet has approved the geographical zones and the executive regulations for the system allowing non-Saudis to own property in the Kingdom. This step is significant in enhancing the attractiveness of the investment environment, expanding the presence of foreign companies, and facilitating their planning and implementation of projects. It also provides a clear regulatory framework that governs the rights and obligations related to property ownership and the procedures for utilization, thereby strengthening the Kingdom’s position as a regional and global business hub and increasing investment appeal in real estate, infrastructure, services, and technology sectors.
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