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Green boosts real estate stocks after Saudi foreign ownership approval
Following the approval by the Saudi Cabinet of the legislation allowing foreigners to own property, the Saudi stock market experienced widespread gains in the real estate management and development sector. Shares increased by more than 4.17%, with trading values exceeding 448 million riyals, as investors awaited growth opportunities in the real estate sector after the identification of locations, rights types, and new facilitation measures. The Knowledge City Company saw a rise of 9.86%, while companies such as Ritel, Jabal Omar, and Dar Al Arkan demonstrated positive performance amid increased liquidity and trading volume. This reflects a positive momentum in the Saudi real estate market resulting from the new regulatory amendments.
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