Saudi Arabia opens its property market to foreign investors for the first time in the Kingdom's history, marking a watershed moment for Gulf real estate as the Non-Saudi Property Ownership Law takes effect on January 21, 2026.
The
Real Estate General Authority (REGA) launched a new national platform called Saudi Properties to serve as the official gateway for all real estate ownership transactions by non-Saudis within the Kingdom.
Executive Summary
Foreign investors gain unprecedented access to Saudi Arabia's property market from January 21, 2026. The Capital Markets Authority eliminates the Qualified Foreign Investor concept from February 1, 2026, opening financial markets to all international investors. International investors already hold 590 billion riyals ($157 billion) in Saudi capital markets. The reforms represent the most significant liberalization of Saudi investment rules under Crown Prince Mohammed bin Salman's Vision 2030 economic transformation program.
New Property Ownership Framework
The updated Law of Real Estate Ownership by Non-Saudis, issued by royal decree on July 14, 2025, was designed to attract foreign investment and enhance urban quality of life. While the original law allowed non-Saudi residents to buy a single property for personal use, the revised legislation opens access to all property types within approved zones.
Foreign buyers can acquire property in designated zones across cities including
Jeddah and
Riyadh. Ownership in the holy cities of Mecca and Medina remains exclusive to Muslims, with stricter restrictions on foreign investment than elsewhere in the Kingdom.
Saudi Properties Platform Launch
REGA announced the Saudi Properties platform during its participation in the Cityscape Global exhibition hosted in Riyadh in November 2025. The platform aims to serve as the official gateway for all ownership processes.
Services include browsing real estate opportunities, communicating with developers, submitting applications, verifying eligibility, and connecting with relevant entities within an integrated ecosystem. The platform provides investors with a simple, seamless, and reliable digital journey to purchase property in the Kingdom.
Capital Markets Opening
Saudi Arabia's Capital Markets Authority announced plans to open financial markets to all foreign investors from February 1, 2026. The amendments eliminate the concept of the Qualified Foreign Investor, scrapping a rule that allowed only international investors with direct and consistent access to the Saudi capital market.
The move will allow investors from around the world to invest directly in the capital market, the
CMA stated, adding it would support inflows and improve market liquidity. International investors held 590 billion riyals ($157 billion) in the Saudi capital market at the end of the third quarter of 2025.
Vision 2030 Economic Transformation
This policy shift forms part of Vision 2030, the Saudi government's long-term plan to transform the economy and society. Since its launch in 2016 under Crown Prince
Mohammed bin Salman Al Saud, the initiative has already lifted the ban on women driving and increased economic transparency.
Saudi Arabia, more than halfway through an economic plan to reduce its dependence on oil, has been trying to attract foreign investors. Initiatives include establishing exchange-traded funds with Asian partners in Japan and Hong Kong. Regulators also opened the door for foreigners to buy listed firms that own real estate in Mecca and Medina last year without changing restrictions on direct land ownership.
Investment Opportunities for International Buyers
Emmanuel Aymes, consultant at
Sotheby's International Realty, told Spear's magazine that Saudi Arabia can be a very interesting opportunity if seen in the right way.
Saudi Arabia is not a short-term trading market and should not be approached like Dubai or London. Where it becomes attractive is for investors who are comfortable with a longer horizon and who are selective about location and asset quality.
Maria Morris, founder of Dubai-based property brokerage
Maria Morris Global, stated that Saudi Arabia is laying the foundations for a globally significant super-prime market. Early movers with a strategic approach will be best positioned to benefit.
Regional Market Dynamics
While Saudi Arabia's property market is still nascent, experts suggest it could complement the UAE rather than compete directly. The Kingdom may attract a different type of buyer who is more strategic, more patient, and often more regionally connected.
The Gulf Cooperation Council, established in 1981 as a political and economic alliance of six Gulf states including Saudi Arabia, Kuwait, Oman, Qatar, Bahrain and the UAE, stands to benefit from the Kingdom's market opening.
Imran Sheikh, founder of Dubai-based property investment firm
BlackOak Global, emphasized the region's long-term appeal. It can be an incredibly good investment if the expectations for the investors are aligned to a longer-term horizon, such as ten years plus.
Real Estate Future Forum
REGA designated non-Saudi real estate ownership as one of the main themes of the Real Estate Future Forum, scheduled to be held in Riyadh in January 2026. The Forum will bring together a broad and distinguished group of leaders and experts to discuss future trends in real estate markets and the promising investment opportunities in the Kingdom's real estate sector.
Market Outlook
Saudi Arabia's newly opened property market represents a strategic, long-term investment opportunity. While it may not rival the UAE immediately, early investors who approach the market with patience and selectivity could reap significant rewards as the Kingdom continues to modernize and expand its global footprint.
Initially, the market will probably have to mature to a significant level before foreigners buy for personal use. Saudi Arabia is seen very much as an unknown and restricted market and that stigma will only dissipate over time.
The launch of the Saudi Properties portal marks a significant milestone in strengthening the Kingdom's position as a leading global destination for real estate investment. It reflects an integrated national vision to build a comprehensive real estate environment that supports economic growth and enhances quality of life.
