Latest news with #SalmanbinAbdulazizAlSaud
Korea Herald
11-07-2025
- Business
- Korea Herald
Al-Hogail Thanks the Leadership for the Council of Ministers' Approval of the Updated Regulation for Non-Saudis' Ownership of Real Estate
RIYADH, Saudi Arabia, July 10, 2025 /PRNewswire/ -- His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipalities and Housing, and Chairman of the Real Estate General Authority (REGA), extended his sincere gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness the Crown Prince on the Council of Ministers' approval of the updated regulation on non-Saudis' ownership of real estate, during its session held on Tuesday, 8/07/2025. His Excellency explained that the Council of Ministers' approval of the updated regulation at this time is a continuation of the real estate legislative reforms aimed at developing the sector and promoting foreign direct investment. This will contribute to increasing the supply of real estate by attracting investors and real estate development companies to the Saudi market, thereby supporting efforts to achieve a more balanced real estate ecosystem. He added that the regulation carefully considers all economic and investment aspects, and allows real estate ownership under specific ownership conditions in Makkah and Madinah. He noted that the updated regulation permits both individuals and legal entities—including residents with legal status in the Kingdom as well as non-residents—to own real estate within Saudi Arabia, in accordance with specific regulations and conditions. According to the updated regulation, REGA is entrusted with proposing the geographical areas in which non-Saudis may own real estate or acquire other real rights. REGA will publish the executive regulations of the updated system on the Public Consultation Platform (Istitlaa) within 180 days from the date of its publication in the Official Gazette. The regulation is scheduled to come into effect in January 2026, as stipulated. The executive regulations will outline the procedures for non-Saudis to acquire real estate rights, the requirements for enforcing the regulation's provisions on non-Saudis, and all relevant implementation details, taking into account economic and social dimensions. It is also worth noting that the updated regulation aligns with the provisions of the Premium Residency Law, the regulations governing real estate ownership by citizens of the Gulf Cooperation Council (GCC) member states for the purposes of residence and investment, and other applicable laws that grant non-Saudis privileges to own real estate and acquire other related rights.
Malaysian Reserve
10-07-2025
- Business
- Malaysian Reserve
Al-Hogail Thanks the Leadership for the Council of Ministers' Approval of the Updated Regulation for Non-Saudis' Ownership of Real Estate
RIYADH, Saudi Arabia, July 10, 2025 /PRNewswire/ — His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipalities and Housing, and Chairman of the Real Estate General Authority (REGA), extended his sincere gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness the Crown Prince on the Council of Ministers' approval of the updated regulation on non-Saudis' ownership of real estate, during its session held on Tuesday, 8/07/2025. His Excellency explained that the Council of Ministers' approval of the updated regulation at this time is a continuation of the real estate legislative reforms aimed at developing the sector and promoting foreign direct investment. This will contribute to increasing the supply of real estate by attracting investors and real estate development companies to the Saudi market, thereby supporting efforts to achieve a more balanced real estate ecosystem. He added that the regulation carefully considers all economic and investment aspects, and allows real estate ownership under specific ownership conditions in Makkah and Madinah. He noted that the updated regulation permits both individuals and legal entities—including residents with legal status in the Kingdom as well as non-residents—to own real estate within Saudi Arabia, in accordance with specific regulations and conditions. According to the updated regulation, REGA is entrusted with proposing the geographical areas in which non-Saudis may own real estate or acquire other real rights. REGA will publish the executive regulations of the updated system on the Public Consultation Platform (Istitlaa) within 180 days from the date of its publication in the Official Gazette. The regulation is scheduled to come into effect in January 2026, as stipulated. The executive regulations will outline the procedures for non-Saudis to acquire real estate rights, the requirements for enforcing the regulation's provisions on non-Saudis, and all relevant implementation details, taking into account economic and social dimensions. It is also worth noting that the updated regulation aligns with the provisions of the Premium Residency Law, the regulations governing real estate ownership by citizens of the Gulf Cooperation Council (GCC) member states for the purposes of residence and investment, and other applicable laws that grant non-Saudis privileges to own real estate and acquire other related rights. Logo – View original content:
Al Etihad
10-07-2025
- Politics
- Al Etihad
Rulers of Emirates offer condolences to Saudi King on passing of Princess Bazah bint Saud
10 July 2025 19:38 ABU DHABI (WAM)Their Highnesses the Supreme Council Members and Rulers of the Emirates have sent condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia, on the passing of Princess Bazah bint Saud bin Abdulaziz Al messages were sent by Their Highnesses the Rulers, Sheikh Dr. Sultan bin Mohammad Al Qasimi of Sharjah, Sheikh Humaid bin Rashid Al Nuaimi of Ajman, Sheikh Hamad bin Mohammed Al Sharqi of Fujairah, Sheikh Saud bin Rashid Al Mu'alla of Umm Al Qaiwain, and Sheikh Saud bin Saqr Al Qasimi of Ras Al Khaimah. Their Crown Princes and Deputy Rulers also sent similar messages of condolences to the Saudi King.
Cision Canada
10-07-2025
- Business
- Cision Canada
Al-Hogail Thanks the Leadership for the Council of Ministers' Approval of the Updated Regulation for Non-Saudis' Ownership of Real Estate
RIYADH, Saudi Arabia, July 10, 2025 /CNW/ -- His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipalities and Housing, and Chairman of the Real Estate General Authority (REGA), extended his sincere gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness the Crown Prince on the Council of Ministers' approval of the updated regulation on non-Saudis' ownership of real estate, during its session held on Tuesday, 8/07/2025. His Excellency explained that the Council of Ministers' approval of the updated regulation at this time is a continuation of the real estate legislative reforms aimed at developing the sector and promoting foreign direct investment. This will contribute to increasing the supply of real estate by attracting investors and real estate development companies to the Saudi market, thereby supporting efforts to achieve a more balanced real estate ecosystem. He added that the regulation carefully considers all economic and investment aspects, and allows real estate ownership under specific ownership conditions in Makkah and Madinah. He noted that the updated regulation permits both individuals and legal entities—including residents with legal status in the Kingdom as well as non-residents—to own real estate within Saudi Arabia, in accordance with specific regulations and conditions. According to the updated regulation, REGA is entrusted with proposing the geographical areas in which non-Saudis may own real estate or acquire other real rights. REGA will publish the executive regulations of the updated system on the Public Consultation Platform (Istitlaa) within 180 days from the date of its publication in the Official Gazette. The regulation is scheduled to come into effect in January 2026, as stipulated. The executive regulations will outline the procedures for non-Saudis to acquire real estate rights, the requirements for enforcing the regulation's provisions on non-Saudis, and all relevant implementation details, taking into account economic and social dimensions. It is also worth noting that the updated regulation aligns with the provisions of the Premium Residency Law, the regulations governing real estate ownership by citizens of the Gulf Cooperation Council (GCC) member states for the purposes of residence and investment, and other applicable laws that grant non-Saudis privileges to own real estate and acquire other related rights.
Al Etihad
10-07-2025
- Politics
- Al Etihad
Rulers of Emirates offer condolences to Saudi King on passing of mother of Prince Abdullah bin Saud bin Saad
10 July 2025 19:02 ABU DHABI (WAM)Their Highnesses the Supreme Council Members and Rulers of the Emirates have sent condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia, on the passing of the mother of Prince Abdullah bin Saud bin Saad I Al Abdulrahman Al messages were sent by Their Highnesses the Rulers, Sheikh Dr. Sultan bin Mohammad Al Qasimi of Sharjah, Sheikh Humaid bin Rashid Al Nuaimi of Ajman, Sheikh Hamad bin Mohammed Al Sharqi of Fujairah, Sheikh Saud bin Rashid Al Mu'alla of Umm Al Qaiwain, and Sheikh Saud bin Saqr Al Qasimi of Ras Al Khaimah. Their Crown Princes and Deputy Rulers also sent similar messages of condolences to the Saudi King.
