The Foreign Property Ownership Law is now live, after taking effect on Thursday, the Real Estate General Authority (Rega) said in a statement. The regulations, first released in July, allow non-Saudi individuals and institutions to own properties and hold real estate rights across different regions of the Kingdom.

REFRESHER- Beyond opening up individual residency, corporate and diplomatic entities can now own property in the Kingdom. Non-listed foreign companies can acquire property for operational use or employee housing within designated zones after completing official registration, while listed companies must comply with Tadawul regulations.

What we don’t know

Executive regs are scheduled for release in 1Q 2026, along with the Geographic Zones document — which will include maps of the approximately 170 designated zones, ownership percentages, and usufruct durations. Ownership in Makkah and Madinah will remain restricted to Saudi companies and Muslim individuals until then.

How to apply

Applications will be processed through the Saudi Properties digital platform, integrated with the national real estate registry. Residents can apply directly using their Iqama, with eligibility verified automatically, while non-residents must first obtain a digital identification number through embassies or consulates before completing the process online.

Foreign companies without a local presence are required to register with the Investment Ministry via the Invest Saudi platform and obtain a unified registration number before applying electronically.

Corporates also got new rules

Listed companies can now hold real estate in Makkah and Madinah for non-HQ purposes, provided no foreign strategic investor holds their securities and non-Saudi ownership stays at or below 49%, according to new controls (pdf) from the Capital Markets Authority (CMA). Non-Saudis can also subscribe to investment funds owning real estate nationwide, including the holy cities.

Why this matters: The change opens the door for REITs and listed developers to diversify their portfolios in previously untouchable high-value zones.

** Want to dive deeper? Check out our in-depth review of real estate reforms in 2025

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