RIYADH – According to Saudi Arabia’s real estate authority, foreigners will soon be able to own property across Saudi Arabia, including in the Muslim holy cities of Mecca and Medina.
Abdullah Alhamad, CEO of the Real Estate General Authority, told Saudi channel Rotana Khalijiya last week that non-Saudis could purchase agricultural, commercial, and residential properties in the country.
Shortly, Alhamad will provide more details on how the purchases will work.
According to Alhamad, the decision applies to “all places” but would be “subject to controls” in Mecca and Medina, where non-Muslim entry is heavily restricted.
A $500 billion megacity, known as NEOM, is part of Saudi Arabia’s ambitious Vision 2030 plans.
As of 2021, foreigners can own property in Riyadh through investment funds, but only indirectly.
Last year, the investment minister proposed allowing foreigners to own properties outright.
Certain investment zones are usually restricted to foreign property ownership in Gulf states.
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This post was last modified on March 28, 2023 10:16 pm
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Currently settled in Canada as a Canadian citizen, Just curious why people left Saudia and moved to Canada, even though Saudia is no longer conservative and doing things which is not even liked in their own country, is that a reason or what? kind of curious to know.
But yeah I want to move to Saudia as when I was a child my dad lived in Jeddah for 3 years and after Saudi holy cities stamped in my heart and soul and from that day I always dream of living in holy cities, but now when I come to practical life and when I search everyone stopped me to go there, as Saudis are very arrogant and aggressive, As all Muslims have right to go and live there, as that is land of ALLAH. So why there are restrictions to living and owning?
But reading this article increased my heart beat and I feel so good that if Saudia allows Muslims to buy property in Makkah and Madian. That will be awesome, can't wait for that "Isha Allah".
Please do update regarding the buy property in Makkah and Madina. Can't wait to move there one-day "Jazak Allah".
But please do tell us why people moving out from Saudia.