Saudi gov’t to allow non-resident foreigners to own real estate in kingdom

Jakarta (Indonesia Window) – The Shoura Council has called on the Real Estate General Authority to coordinate with the relevant authorities to study its proposal allowing non-resident foreign individuals to own real estate in Saudi Arabia amid specific controls, Saudi Gazette reported.

The council also called on the authority on Wednesday (June 9) to ensure transparent governance for the entities it established, such as the Saudi Real Estate Institute, the Saudi Center for Real Estate Arbitration and the Center for Research and Studies.

The authority has been asked to strengthen the supervisory role in all of its work so that it can follow up on compliance with the rules and standards it has set for the real estate activities.

Reporting by Indonesia Window