Saudi Arabia’s property market is entering a new phase of openness to international capital, driven by new rules on real estate ownership by non-Saudis and the designation of geographical zones where they can buy property. The move advances the Kingdom’s push to establish itself as a global real estate investment destination as interest grows among international investors and investment funds. Government entities and several property developers are seeking to draw investors to the Saudi market through the inaugural Saudi Luxury Real Estate Show. Held in strategic partnership with the Real Estate General Authority, or REGA, the event brings together Saudi developers, investors, family offices and industry specialists from Britain and other international markets. Taiseer Al-Mufarrej, REGA’s official spokesperson, said the authority was participating to raise awareness of the Kingdom’s new real estate framework, particularly the recently approved Law of Real Estate Ownership by Non-Saudis and the geographical zones designated for ownership. Al-Mufarrej told Asharq Al-Awsat that REGA’s role at the show went beyond explaining the law. The authority was also engaging directly with investors, answering their questions and outlining the process for buyers, investors and real estate brokers through to the completion of transactions involving ownership by non-Saudis. He said the Saudi Properties portal was the main channel for transactions covered by the law. REGA was using the show to explain the customer journey and how to use the platform, offering those seeking to enter the Saudi market a clearer view of its procedures and opportunities. International funds show interest REGA’s participation extended beyond its exhibition pavilion. On the sidelines, the authority organized workshops, panel discussions and roundtables aimed directly at investors, in cooperation with several Saudi government entities and private-sector institutions. Al-Mufarrej said one roundtable was dedicated to investors from international investment funds and included the Saudi British Business Council. The meeting underscored growing efforts to draw institutional capital into Saudi real estate as the new rules broaden the targeted investor base. The meetings gave investors a chance to speak directly with officials and raise questions about ownership procedures, available opportunities and the nature of the market, Al-Mufarrej said. They come as the sector’s regulatory environment undergoes changes aimed at strengthening transparency and making the market more attractive to investors from Saudi Arabia and abroad. Riyadh and Jeddah — and Makkah and Madinah Al-Mufarrej said REGA’s participation revealed strong interest in the property ownership law for non-Saudis among investors, visitors and people looking for real estate in the Kingdom. Interest was not limited to Riyadh and Jeddah. It extended to Makkah and Madinah, which attract particular attention because of their religious importance and the nature of property demand in both cities. “We saw a very significant increase in awareness among investors, visitors and even people looking for property in the Kingdom,” Al-Mufarrej said. Inquiries covered the main cities, led by Riyadh and Jeddah, as well as Makkah and Madinah, he added. The efforts are gaining importance as Saudi Arabia seeks to increase the real estate sector’s contribution to the economy and diversify investment channels, alongside the large-scale projects, urban expansion and population and economic growth reshaping the Kingdom’s cities. ‘A global real estate investment destination’ Al-Mufarrej described the turnout at the show as strong, citing the prominent presence of investors, media outlets and influencers. He said the attendance reflected a shift in how foreign investors viewed the Saudi property market. “What we witnessed at the show clearly demonstrates that Saudi Arabia has become a global real estate investment destination,” he said. Investors and property seekers showed strong interest in the Kingdom, whether for investment, ownership or housing, he added. International interest is rising as Saudi Arabia undertakes a broad overhaul of its real estate regulatory and investment framework. The focus is shifting from simply offering property opportunities to building a clearer investment environment — from identifying areas open to ownership to explaining the procedures and platforms through which investments are processed. Al-Mufarrej said the show’s timing alongside those changes had made it a platform for raising awareness of the new rules and engaging directly with investors. The event came “at exactly the right time” and helped introduce investors to the Kingdom’s property ownership law, he said. The growing presence of international investors reflects a broader shift in the Saudi market. Real estate opportunities are no longer tied solely to domestic demand. The Kingdom is seeking to position the sector as a channel for international investment, drawing on regulatory reforms, large-scale projects and the transformation of Saudi cities under the goals of Saudi Vision 2030.
