Money & BusinessSaudi Arabia

Saudi Arabia allows firms to buy land in Makkah, Madinah

Saudi Arabia has granted permission to companies listed on the Saudi Stock Exchange (Tadawul) to buy real estate in Makkah and Madinah.

As per the amended Article 5 of the Law of Real Estate Ownership and Investment by non-Saudis, a non-Saudi investor with a natural or corporate personality licensed to practice any professional, vocational, or economic activity may acquire the real estate necessary for practicing the activity in Makkah and Madinah.

It is also stipulated that such real estate be invested within five years from its acquirement.


Trade Arabia

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