This was a matter of very helpless preponderance. The next sunny afternoon in Riyadh, the issuance of that royal decree permitted foreigners with residence in Saudi Arabia to acquire and own real estate there. This decision was no mere policy about-face; it is deemed to be a silent and somewhat symbolic turning towards global accommodation, implying that the country was now ready to broach long-term investment, while the short term holds a separate interest.
The policy now permits non-Saudis to own property in various categories—residential, commercial, agricultural (in regulated zones), and industrial. It builds on earlier reforms but takes a definitive step in establishing Saudi Arabia as a contender in global real estate.
The Scale of the Opening
Foreign ownership is not without limits. The government has confirmed that designated zones will be made available, where foreigners can collectively own up to 70% to 90% of the properties within that zone. Individuals can gain 100% title to their purchased unit or land. Cities like Riyadh, Jeddah, and Dammam are expected to be at the centre of this shift. Ownership in Mecca and Medina is generally restricted to Saudi nationals, with some limited provisions for foreign Muslims and companies operating in approved areas.
Officially, Saudi Arabia is said to have experienced the $32 billion residential real estate transaction plays of 2024. The policy shift has exposed the worldwide enquiries to a rise in real estate organisations in the Kingdom. Demand has surged from key regions in Asia, with early indicators suggesting a steady flow of interest from international investors who view Saudi Arabia as a frontier market with long-term potential.
Global Response from Buyers
Interest from international buyers is climbing. Agencies in Southeast Asia and South Asia are seeing a significant uptick in property consultations. Agents in Mumbai, Karachi, and Kuala Lumpur have begun preparing marketing strategies targeting this new opportunity. Middle Eastern diaspora populations are also evaluating whether Saudi Arabia could be a viable part of their investment portfolios.
Several multinational property enterprises are beginning to tailor their services for international clients, sourcing multilingual support, artificial tours for property, and remote legal arrangements. It was noted that there were single schemes that involved pools of investors eager to procure large blocks of apartments or land in the central business districts.
Buyers are especially drawn to projects in Riyadh’s business districts and Jeddah’s waterfront developments. There is growing anticipation around whether future phases of NEOM and the Red Sea project—both within designated Special Economic Zones—will be fully open to individual foreign investors.
Buyer Considerations
Foreign investors will need to navigate emerging legal structures. While ownership is permitted, questions remain around resale, inheritance, and dispute resolution. The Saudi legal system is in the process of developing investor protection protocols, and early buyers are navigating these evolving frameworks carefully.
While mortgage availability is also improving at the local level, access to mortgages for non-residents is still curtailed with stricter qualifications, higher down-payment requests, and shorter fixed terms. Currency controls are relatively minor. Yet, as an investor, are you certain you can send your hard-earned Return on Investment (RoI) home with minimal touches owing to repatriation rights, as well as that there are no taxes?
Interested buyers should, therefore, consider local practices, infrastructure credibility, and transparency. Property registration is handled by the Ministry of Justice and carried out digitally, but without some Arabic, wrapping one’s head around the paperwork might be quite a challenge.
Who Is Buying?
Most early demand is coming from Asia. Agencies have confirmed active interest from Indian, Pakistani, and Malaysian investors looking at Riyadh’s emerging districts and Jeddah’s waterfront. Some interest is also coming from Gulf expatriates who have spent decades living in Saudi Arabia but were previously barred from buying property.
Multinational real estate groups such as JLL and Knight Frank are preparing to provide counselling services to international clients. Local Saudi brokers are creating dedicated desks to handle queries requested from abroad. As a new offering, some services also include safe search amenities, virtual property tours, and remote document verification.
International developers may be discussing collaborations along with Saudi groups in order to develop properties with non-local buyers in mind. The properties developed do not fall within the new zones.
Practical Entry Points
If you’re looking to invest, the first step is to monitor updates from the Real Estate General Authority. Regulations are expected to clarify zone boundaries, ownership limits, and resale conditions.
Due diligence will be key. Work with property lawyers familiar with Saudi law. Verify developer credentials. Understand utility provisions and community management policies. Saudi Arabia is still building its real estate regulatory framework, and early participants will need to exercise caution.
International buyers may want to join webinars hosted by real estate councils or attend investment expos where Saudi developers present upcoming opportunities. These forums often offer early access to off-plan projects.
Looking Ahead
Saudi Arabia’s introduction of an open real estate sector is well-executed, conscious, and strategic. This move comes at a point when regional diversification has begun pulling in the capital flow toward emerging markets. In real terms, for long-term investors, access is given to one of the few G20 real estate markets that remain untapped.
Whether or not this market will turn into one that rewards the early comers shall depend on how the Kingdom handles transparency, regulation, and infrastructure. Up till now, the doors have been slowly creaking open, and the entire investment world is actually watching.