Real estate expert Saud Al-Sulaimani confirmed that foreign investors can purchase property in Saudi Arabia despite the executive regulations not yet being issued, as the foreign ownership system has officially come into force as part of the strategy to open the market and attract global investment.
In a statement to Al Arabiya Business, he explained that ownership depends on the investor category: citizen, resident, or foreigner. Foreigners may purchase property either individually or through companies for investment purposes. He also stressed the necessity of obtaining a digital national identity to complete procedures, facilitate banking transactions, and enhance transparency.
Foreign investors can apply for the digital identity through Saudi embassies abroad after fulfilling the requirements set by the Ministry of Interior. He also pointed to the “Saudi Real Estate” platform as a digital interface for managing ownership transactions with clear data and secure property transfer.
Geographic zones have been designated for ownership in Riyadh and Jeddah to ensure market balance, while ownership in Makkah and Madinah is restricted due to their religious significance.
Other cities have been opened to expand opportunities. He added that off-plan sales projects and ready-to-move units are available in these areas, with installment payment options also offered to foreigners.
Foreign investment demand is mainly concentrated in Makkah, Madinah, Riyadh, and Jeddah, with growing interest from countries such as Italy, Indonesia, Singapore, and China. Regarding the additional 5% fee for foreign investors, Al-Sulaimani described it as within the normal global range, making it unlikely to affect purchasing decisions.
