Saudi Arabia Launches Real Estate Tokenization Law to Enable Non-Saudis to Own Property and Boost Investment

Saudi Arabia has taken a historic step in its real estate sector with the implementation of a long-awaited law allowing non-Saudis to own property, marking a strategic shift in the Kingdom’s property framework. This move aligns with Saudi Vision 2030 and aims to attract foreign capital, individuals, and companies, leveraging the Kingdom’s political stability and growing economy as one of the Middle East’s largest markets.

The reforms include the launch of the “Saudi Real Estate” digital platform, which manages ownership applications. Residents can apply directly online, while non-residents must obtain a digital identity from Saudi missions before applying. Foreign companies must register first with the Ministry of Investment via the “Invest Saudi Arabia” platform, then proceed to complete the ownership process online.

The law allows ownership across various regions, with special focus on Riyadh and Jeddah as global economic hubs. A regulatory framework applies to Makkah and Madinah, permitting only Muslims, inside or outside the Kingdom, and fully Saudi-owned companies to hold property there.

The legislation aims to stimulate growth in the real estate sector, increase project diversity, create high-quality job opportunities for Saudi nationals, and link the digital ownership portal to property title registration to ensure legal certainty, strengthen investor confidence, and support a diversified, transparent, and innovation-driven economy.