Latest news with #non-Saudis
Arab Times
11-07-2025
- Business
- Arab Times
Now, Saudi Arabia Will Allow Expats To Own Properties
RIYADH, July 11: In a landmark policy shift aimed at boosting foreign investment, Saudi Arabia will permit non-Saudis to own real estate in designated areas across the Kingdom beginning January 2026. The move comes under a newly approved property ownership law, marking a significant milestone in the country's broader strategy to diversify its economy and strengthen the real estate sector. The decision was endorsed by the Saudi Cabinet and announced by Majed Al-Hogail, Minister of Municipal, Rural Affairs and Housing and Chairman of the Real Estate General Authority, who described the legislation as a cornerstone of the Kingdom's ongoing real estate reform program. Under the new framework, foreign nationals will be permitted to purchase property in specific zones, primarily in Riyadh and Jeddah, while ownership in the holy cities of Mecca and Medina will be subject to stringent regulatory conditions and additional oversight. 'The updated law is designed to expand the real estate supply, attract international investors and developers, and stimulate foreign direct investment in the Saudi market,' Al-Hogail said, adding that the legislation includes procedural safeguards to protect national interests and ensure the integrity of the housing sector. The Real Estate General Authority will play a central role in implementing the law. It will define the geographical zones open to foreign buyers and draft the accompanying executive regulations. These regulations will be made available for public consultation via the 'Istitlaa' platform within 180 days of the law's publication in the official gazette. The guidelines will detail eligibility requirements, application procedures, and compliance mechanisms, ensuring a balanced approach to economic liberalization and social responsibility. The law complements existing frameworks such as the Premium Residency Law and property ownership rights extended to GCC citizens, further reinforcing Saudi Arabia's commitment to regulatory modernization under the Vision 2030 transformation plan. By opening its property market to global investors, the Kingdom seeks to position itself as a competitive real estate destination while addressing domestic housing demand and fueling long-term economic growth.
Leaders
11-07-2025
- General
- Leaders
Saudi Arabia's Population Hits 35.3M in 2024: A Youthful Nation on the Rise
Saudi Arabia's total population reached 35,300,280 in 2024, according to newly released data from the General Authority for Statistics (GASTAT). This milestone was announced on World Population Day, highlighting the Kingdom's growing demographic landscape. Demographics The data revealed that 55.6% of the population are Saudi nationals, while non-Saudis make up 44.4%, with this blend of nationalities underscoring the Kingdom's diverse and dynamic society. Additionally, the figures show a significant gender imbalance, with males accounting for 62.1% of the population. In contrast, females comprise 37.9%, indicating a predominantly male population. The population structure highlights a predominantly young and productive society. Individuals aged 15 to 64 make up 74.7% of the population. Meanwhile, children aged 0 to 14 represent 22.5%, and seniors aged 65 and above constitute just 2.8%. Economic Potential Released under the theme 'Saudi Arabia's Population: Figures and Sustainable Impact,' the data underscores the Kingdom's demographic potential. The youthful population not only supports economic growth but also highlights the need for continued investment in education, training, and human capital development. In conclusion, Saudi Arabia's growing population presents both opportunities and challenges. The Kingdom must leverage its demographic advantages to foster sustainable development and ensure a prosperous future for all citizens. Short link : Post Views: 15
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.
See - Sada Elbalad
11-07-2025
- Business
- See - Sada Elbalad
Saudi Arabia Approves Law Allowing Foreigners to Own Property across Kingdom
Taarek Refaat In a groundbreaking move to boost foreign investment and revitalize the real estate sector, the Saudi Cabinet on Monday, July 8, approved a new law permitting non-Saudis to own property across the Kingdom — a historic policy shift that aligns with the country's ambitious Vision 2030 economic diversification strategy. The decision marks a significant departure from longstanding restrictions that limited property ownership almost exclusively to Saudi citizens, and it is expected to have wide-reaching implications for the Kingdom's investment climate and urban development. According to details published by the Saudi Press Agency (SPA), the new property ownership law will apply to three main categories of non-Saudis: -Legally resident foreigners currently living in the Kingdom under valid residency permits. -Foreign companies licensed by the relevant Saudi authorities. -International investors seeking to launch economic or real estate projects in the country. Officials say the policy is designed to make Saudi Arabia a more attractive destination for global capital while fostering competition and innovation in the real estate market. 'This decision is a milestone in Saudi real estate regulation,' said an official close to the matter. 'It opens up new avenues for housing development, commercial expansion, and long-term foreign involvement in our economy.' While specific guidelines and conditions regarding property types, locations, and ownership caps are yet to be published, sources indicate that further regulatory frameworks will be rolled out in the coming months to ensure transparent and sustainable implementation. The move is expected to stimulate activity in major urban centers such as Riyadh, Jeddah, and NEOM — the futuristic $500 billion mega-city project on the Red Sea coast. Real estate analysts suggest that the policy could also attract wealthy expatriates and global developers, especially in the luxury and mixed-use development segments. As part of Vision 2030, Saudi Arabia has been opening up to tourism, expanding entertainment offerings, and loosening regulatory barriers to international business. Allowing foreign ownership of property represents one of the clearest signals yet that the Kingdom is accelerating its transformation into a globally integrated economy. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
Saudi Gazette
10-07-2025
- General
- Saudi Gazette
Saudi population reaches 35.3 million in 2024, majority under 65
Saudi Gazette report RIYADH — Saudi Arabia's total population reached 35,300,280 in 2024, according to newly released data from the General Authority for Statistics (GASTAT), marking World Population Day. Of the total population, 55.6 percent are Saudi nationals, while non-Saudis comprise 44.4 percent. The figures also reveal a significant gender imbalance, with males accounting for 62.1 percent of the population, compared to 37.9 percent females. The population structure highlights a predominantly young and productive society. Individuals aged 15 to 64 make up 74.7 percent of the population, while children aged 0 to 14 represent 22.5 percent. Seniors aged 65 and above constitute just 2.8 percent. Released under the theme 'Saudi Arabia's population... Figures and sustainable impact,' the data reflects the demographic potential of the Kingdom. The youthful population provides a strong foundation for economic growth and emphasizes the importance of continued investment in education, training, and human capital development.
