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Al-Naqihel thanks leadership on property law approval
Reports indicate that approval has been granted for the geographic areas and the executive regulations of the updated system governing non-Saudis' property ownership in Saudi Arabia. The purpose is to regulate ownership transactions, specify their locations, and define the types of rights permitted. This step is part of efforts to develop the real estate sector, enhance market transparency, and increase its attractiveness, while considering the special status of religious sites such as Mecca and Medina. These measures aim to improve the regulation of the real estate market, achieve a balance that fosters economic growth, and strengthen the Kingdom’s global standing.
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