Foreigners Face Specific Riyadh Property Ownership Rules

Expert Clarifies Restrictions on Non-Citizen Real Estate Investments

Foreign nationals seeking to invest in Riyadh’s real estate market will find their options are not universal. Ownership is restricted to designated areas as outlined by executive regulations, according to financial and real estate investment specialist, Eng. Ibrahim Al-Sahn.

Defined Zones for Foreign Ownership

Eng. Ibrahim Al-Sahn explained that current regulations meticulously detail the permissible zones for foreign property acquisition within the capital. This system ensures that non-citizens can only purchase homes in specific, pre-determined neighborhoods rather than any location throughout Riyadh.

Anticipated Investment Hubs Identified

Looking ahead, Eng. Ibrahim Al-Sahn anticipates that areas such as Diriyah, New Square Gate, housing units within Qiddiya, and King Salman Park are likely candidates for foreign property ownership.

“The foreigner cannot own in any neighborhood of Riyadh, according to the system, but there are specific areas for it.”

—Eng. Ibrahim Al-Sahn, Specialist in Finance and Real Estate Investment

This move aligns with broader efforts to attract foreign investment, which saw a notable 13% increase in real estate transactions involving foreign investors in the first quarter of 2023, according to the Saudi Ministry of Justice.

Prioritizing Citizen Housing Needs

Eng. Ibrahim Al-Sahn emphasized that these designated foreign ownership zones are strategically located away from areas crucial for Saudi citizens and residents. The intention is to safeguard housing stability for local families, ensuring their essential needs are not impacted by international investment patterns.