Ownership By Foreigners In KSA

The Law of Real Estate Ownership and Investment by Non-Saudis promulgated by Royal Decree No. 15 issued on 17/04/1421 AH, is a milestone in the progress of economic openness in the Kingdom of Saudi Arabia. The Law aims to attract foreign investments, promote economic development, and provide job opportunities; and regulates the conditions stipulated for non-Saudis to own and invest in real estate, whether they are natural or juristic persons, to practice any activity licensed to them, whether it is a professional, vocational, or economic activity. The above Decree also specifies the areas in which non-Saudis are permitted to own real estate and sets controls for the ownership and investment process.