Riyadh (Web Desk): In a major policy shift, Saudi Arabia has announced that foreign nationals will soon be allowed to purchase property within the kingdom.
According to Saudi authorities, the decision aims to attract foreign investment and boost the real estate sector. The Ministry of Housing and other relevant departments are currently working on regulations that will enable individuals and companies from abroad to buy property under specific conditions.
Initial reports suggest that foreigners will be permitted to purchase residential, commercial, and certain industrial properties. However, restrictions will remain in place in sensitive and strategic zones.
This initiative is part of Saudi Arabia’s Vision 2030 — a broader strategy to diversify the country’s economy and make it more attractive to international investors.