The Kingdom of Saudi Arabia has officially enacted a new law regulating real estate ownership for non-Saudis, a significant move designed to attract foreign investment and diversify the economy. The legislation, which came into force on January 22, is being implemented by the Real Estate General Authority (REGA) as a core component of the national real estate legislative system.
A Digital-First Approach to Ownership
In a move to streamline the process, REGA has announced that all applications for property ownership by non-Saudis will be exclusively managed through the official digital platform, Saudi Properties. This centralized portal is designed to en
ance transparency and protect property rights by directly linking with the Kingdom’s real estate registration framework.
The application process is tailored to different applicant categories. Residents in Saudi Arabia can apply directly through the platform using their residency ID, with eligibility verified electronically. Non-residents must initiate the process through Saudi missions abroad to obtain a digital ID before submitting their requests online.
Foreign companies and entities without a presence in the Kingdom are required to first register with the Ministry of Investment via the Invest Saudi platform. Upon receiving a unified number, they can then complete the ownership procedures electronically through the Saudi Properties portal.
Strategic Goals and Economic Impact
This landmark legislation is a key part of Saudi Arabia’s Vision 2030, which aims to reduce the country’s reliance on oil and build a more robust, diversified economy. By opening the property market, the Kingdom seeks to attract international developers and specialized real estate firms, thereby improving the quality of projects across the residential, commercial, industrial, and tourism sectors.
The law is expected to stimulate significant growth, contribute to the creation of new employment opportunities for Saudi citizens, and sustainably increase the real estate sector’s contribution to the nation’s non-oil GDP.
Regulatory Framework and Geographic Zones
The new law permits foreign individuals and entities to own real estate across most regions of the Kingdom. However, specific regulations will govern ownership in certain key areas.
Ownership in the holy cities of Makkah and Madinah remains restricted. For the major urban centers of Riyadh and Jeddah, a specific framework based on a “Geographic Zones Document” will be implemented. REGA has indicated that this document, detailing the specific restrictions and regulations for these zones, is expected to be announced in the first quarter of 2026.
About the Real Estate General Authority (REGA)
The Real Estate General Authority (REGA) is the government entity responsible for regulating, supervising, and developing Saudi Arabia’s real estate sector. Its mission is to stimulate investment in the sector in a way that contributes to the Kingdom’s broader economic and social development. REGA is spearheading the implementation of the new foreign ownership law through its digital platform, Saudi Properties.
Source: Fast Company ME
