Saudi Arabia

Saudi Arabia

Allows non-Saudis to invest in real estate funds

09 Nov 2021

On 9 November 2021, the Capital Market Authority (CMA) allowed financial market institutions to accept the subscriptions of non-Saudis in the real estate funds that invest in assets within the boundaries of Makkah and Madinah. This measure is part of the National Investment Strategy (Vision 2030) launched on 11 October to help increase foreign direct investment.

The ownership system for non-Saudis in the Kingdom stipulates that non-Saudis are allowed to own real estate for their own residence, after obtaining a license from the Ministry of Interior, and for foreign representations to own their official headquarters on the condition of obtaining a license from the Minister of Foreign Affairs.

The decision aims to activate the role of investment funds as a tool for financing real estate developers and SMEs.