6 أشهر ويبدأ سريان نظام تملك غير السعوديين للعقار

The non-Saudis property ownership system allows individuals, companies, and non-profit entities to own real estate within Saudi Arabia, provided they register in advance with the relevant authorities, except for Mecca and Medina, where ownership is restricted to Muslims. This step aims to enhance the real estate investment environment and ensure developmental balance.

The system will be implemented within 6 months from now, allowing non-listed companies owned by foreigners to own property both inside and outside the geographical scope for operational purposes or for employee housing. Investors in listed companies and licensed investment funds will also be granted ownership rights across the Kingdom, including Mecca and Medina, in accordance with the regulations of the Capital Market Authority.

The system requires the registration of any ownership transaction in the real estate registry and imposes a fee not exceeding 5% of the transaction value on non-Saudis when selling or transferring property rights. Violators will be penalized with fines of up to 10 million riyals, in addition to the sale of the property involved in the violation if misleading information is provided, with the state retaining the proceeds from the sale after deducting fees and statutory expenses.

The executive regulations of the system will be issued in the coming period to specify the detailed procedures for ownership, along with exceptions and details of the prescribed property fee.

The new system will replace the non-Saudis property ownership and investment system issued in 1421 AH.