Hyderabad, Jan. 28 -- Saudi Arabia's Capital Market Authority (CMA) has announced a groundbreaking policy allowing foreign investors to invest in real estate companies operating in the holy cities of Makkah and Madinah.

This initiative, effective immediately, is designed to attract foreign capital, boost the Saudi capital market, and support ongoing and future development projects in the two sacred cities.

This decision is part of the CMA's "Controls for the Exclusion of Companies Listed in the Saudi Stock Exchange (Tadawul) from the Meaning of the Phrase (Non-Saudi)" under the Law of Real Estate Ownership and Investment by Non-Saudis.

Key details of the investment policy

Under the new regulations:

Foreign investment is limited to sh...