Saudi Arabia to open real estate market to foreign buyers from 2026

Saudi Arabia will allow non-Saudis to buy real estate in specific areas beginning January 2026, following the approval of a new law by the Saudi Cabinet, as per a report by Gulf News. The move is part of the Kingdom’s wider efforts to attract foreign investment and expand its non-oil economy.

Majed Al Hogail, Minister of Municipal and Rural Affairs and Housing and Chairman of the Real Estate General Authority, welcomed the development. “The updated law aims to increase real estate supply, attract global investors and developers, and further stimulate foreign direct investment in the Saudi market,” he said, according to the report by Gulf News. Al Hogail added that the law is part of a broader real estate reform strategy and includes controls to protect Saudi citizens.

Under the law, non-Saudis will be permitted to purchase property in designated zones, including Riyadh and Jeddah. Ownership in Mecca and Medina will be subject to additional regulatory conditions due to their religious status. The Real Estate General Authority will identify which geographic areas are open to foreign ownership and release detailed executive regulations. These rules, expected within 180 days of the law’s publication in the official gazette, will be opened to public consultation via the “Istitlaa” platform.

The executive regulations will include the application process, eligibility criteria for buyers, and enforcement mechanisms to ensure compliance. The policy change is aligned with other residency and investment frameworks, including the Premium Residency Law and existing property ownership rules for GCC nationals.

The decision reflects Saudi Arabia’s long-term economic diversification plans under Vision 2030. By opening its property market to foreigners, the Kingdom aims to encourage international developers and investors to participate in its growing real estate sector, while also managing social and regulatory expectations.