Non-Saudi Real Estate Ownership in Saudi Arabia

Article Two of the system for non-Saudis owning real estate stipulates that non-Saudis may own and acquire real rights on real estate in the scopes issued by a decision of the Council of Ministers based on the proposal of the General Real Estate Authority and the approval of the Council of Economic and Development Affairs. To ensure the implementation of the system, monitor the application of its policy, and verify the achievement of its objectives, the Council of Ministers approved the formation of the Supervisory Committee for Non-Saudis Owning Real Estate, consisting of 13 government entities that began their tasks with the announcement of the system. Its tasks include monitoring the progress made in the system, recommending any changes in policies, reviewing and submitting performance reports, risk management, and studying related recommendations in line with any changes or developments. The Supervisory Committee consists of: 1. General Real Estate Authority 2. Ministry of Investment 3. Ministry of Justice 4. Ministry of Interior 5. Ministry of Municipal and Rural Affairs and Housing 6. Ministry of Environment, Water and Agriculture 7. Ministry of Industry and Mineral Resources 8. Royal Commission for Makkah City and Holy Sites 9. Madinah Region Development Authority 10. Economic Cities and Special Zones Authority 11. Zakat, Tax and Customs Authority 12. General Authority for Statistics 13. Saudi Central Bank

The executive regulations will be issued within 180 days from the effective date of the system, and therefore they are expected to be issued in the coming period before the system comes into force, and the same applies to the geographical scopes.