His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, has approved a new law allowing non-Saudi property ownership in the kingdom.
The announcement came during the cabinet session held in Jeddah. The updated system for non-Saudi property ownership is expected to stimulate foreign investment in the sector and enhance the quality and availability of real estate supply by attracting investors and real estate development companies.
The non-Saudi property ownership legislation is in line with the directions aimed at achieving real estate balance, and keeping pace with the economic and investment momentum under the Saudi Vision 2030.
Image Credits: Irfan Rahat@Pexels | Cropped by GBN
Under the updated law, the Real Estate General Authority (RERA) will be responsible for designating locations, mostly in Riyadh and Jeddah, where non-Saudis are able to make property investment.
Beginning from January 2026, the new non-Saudi property ownership regulations will be released for public consultation via the “Istitlaa” consultation platform within 180 days of the law’s publication in the official gazette.
The regulations will outline the steps for foreign ownership, eligibility criteria, and enforcement mechanisms, balancing economic development with social considerations.
The property ownership law comes at a time when Saudi Arabia’s real estate market is booming. According to a market study by IMARC Group, the Saudi Arabian real estate is forecasted at $133 billion by 2033.
Rep. Image | Courtesy: NEOM
With major projects like NEOM under development, Saudi Arabia has seen tremendous interests from foreign investors.
The Kingdom has also put hands on the digital transformation of the sector. Recently, droppRWA, a subsidiary of droppGroup and a global provider of sovereign-grade Web3 AI and blockchain infrastructure, partnered with Saudi RAFAL Real Estate Company to execute the first KSA real-world asset (RWA) tokenization of property markets under the RAFAL pilot.
The RAFAL pilot will serve as a national feasibility benchmark for the future of tokenized property markets within Saudi Arabia. By redefining real estate ownership, the partnership aims to introduce fractional ownership of high-value real estate assets, allowing Saudi citizens to invest with amounts starting as low as single-digit riyals.
