Al-Marsad newspaper: Ziad Al-Shaar, CEO of Dar Global, said that the Kingdom of Saudi Arabia will grant permanent residency (for life) to foreigners who buy a house inside the Kingdom with a value of no less than 4 million Saudi riyals – equivalent to about one million US dollars – as part of new systems that allow full freehold ownership for foreigners for the first time.
Vision 2030
He explained that these new regulations come in line with Saudi Vision 2030, which aims to attract foreign investments and diversify the economy away from oil, noting that the law will enter into force on January 28, 2026.
Geographic areas
The Minister of Municipal Affairs and Housing, Majid Al-Hogail, had previously stated that ownership by foreigners would be within specific geographical areas, especially in the cities of Riyadh and Jeddah, with special requirements for ownership in Mecca and Medina.
Mega projects
According to sources who spoke to AGBI, the new ownership rights will also include mega projects such as Diriyah and NEOM, along with specific areas in Dammam and Al-Khobar.
Foreign investment
Al-Shaar pointed out that foreign investment in real estate actually began before the law entered into force, saying:“Since the government announced its intention to pass the law, we started selling immediately… We have buyers from 30 different nationalities, and those who move first are always the ones who benefit.
