Saudi crown prince Mohammed bin Salman's big move, set to allow foreigners to..., aims at reducing...

Saudi Arabia has announced that foreigners, including expats and international investors, will be allowed to buy property in the country starting January 2026. This new policy is part of the Kingdom’s Vision 2030 strategy, aimed at reducing its dependence on oil and attracting more global investment.

As per a report by Gulf News, the new law will permit foreign individuals and companies to own real estate in specific zones across the country. Saudi citizenship will not be required, making it easier for expats living in Saudi Arabia or the UAE to invest in property.

The government is currently working on identifying the designated zones where foreigners will be allowed to purchase property. Cities such as Riyadh and Jeddah are expected to be included. However, for the holy cities of Makkah and Madinah, special conditions will apply due to their religious and cultural importance. Foreign ownership in these cities will likely need additional approvals or meet strict requirements.

The full list of approved zones and detailed regulations will be shared through the government’s public consultation platform, “Istitaa,” within the next 180 days. Through Istitaa, individuals can view the draft regulations and submit feedback before the final rules are announced.

This policy marks a significant shift in Saudi Arabia’s approach to foreign investment and is aligned with Crown Prince Mohammed bin Salman’s long-term vision to open the Kingdom to the world. Vision 2030, announced in 2016, aims to diversify the economy, boost tourism, and modernise Saudi society.

The move is seen as a welcome opportunity for expats who have long wanted to own property in Saudi Arabia. With clearer rules and new investment opportunities on the horizon, the real estate market is expected to attract strong interest from international buyers once the law takes effect in 2026.