Saudi: Foreign organisations can now own headquarters, residences

The amended Law on Real Estate Ownership and Investment by non-Saudis allows foreign diplomatic missions accredited to the Kingdom to own their official headquarters and residences of the head of their missions and their members and that is on the basis of reciprocity.

There is also a provision in the amended law that permits international and regional organizations to own their official headquarters and that is within the limits of the agreements governing them. These ownerships would be granted on the condition of obtaining a license from the Minister of Foreign Affairs, it was specified in the amended law.

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