Saudi Arabia allows non-Saudis to invest in real estate funds at Makkah and Madinah

The ownership system for non-Saudis in the Kingdom stipulates that non-Saudis are allowed to own real estate for their own residence, after obtaining a license from the Ministry of Interior

  
Skyscraper buildings near and around Al-Haram Mosque in Mecca (Makah), Saudi Arabia. Image used for illustrative purpose.

Skyscraper buildings near and around Al-Haram Mosque in Mecca (Makah), Saudi Arabia. Image used for illustrative purpose.

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RIYADH: The Capital Market Authority (CMA) allowed the financial market institutions to accept the subscriptions of non-Saudis in the real estate funds that invests in assets within the boundaries of Makkah and Madinah, according to a released statement by CMA.

The ownership system for non-Saudis in the Kingdom stipulates that non-Saudis are allowed to own real estate for their own residence, after obtaining a license from the Ministry of Interior, and for foreign representations to own their official headquarters on the condition of obtaining a license from the Minister of Foreign Affairs.

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