Jeddah, July 9 -- In a landmark policy shift aimed at boosting foreign direct investment and expanding real estate opportunities, Saudi Arabia's Cabinet, chaired by Crown Prince and Prime Minister Mohammed bin Salman, has approved a new law enabling non-Saudis to own property within the Kingdom. The law is set to come into force in January 2026.

The law allows foreign individuals and entities to own property in designated areas, including the cities of Riyadh and Jeddah, with regulated conditions for ownership in Makkah and Madinah.

The decision, taken during the weekly Cabinet session in Jeddah, forms part of the broader efforts under Vision 2030 to diversify the national economy and stimulate private sector participation.

Under the l...