More Like This

Can Foreigners, Ex-pat Iqama Holders, Buy Property In Saudi Arabia?

BusinessCan Foreigners, Ex-pat Iqama Holders, Buy Property In Saudi Arabia?

A Foreigners Complete Guide To Purchase/Buy Property In Saudi Arabia.

Guide To Buying And Registering Land in KSA, Or A Home

The following is a short guide to who can buy and register land or residential property as ex-pat foreign nationals in Saudi Arabia.

Exactly How Do Foreigners and Expats Buy Property In Saudi Arabia? 

The following article will also show you how to locate a suitable property. 

 What should an ex-pat foreigner know about purchasing property in Saudi Arabia? 

Prices are negotiated between buyer and seller or through real estate brokers or lawyers. Foreigners are allowed to own real estate but are subject to the approval of the licensing authority.

Foreign investors can purchase property for construction and investment, but this also requires prior authorization. Foreigners cannot own property in Mecca and Medina. 

10 Steps To Owning Land Or Property In KSA For Ex-pat Foreign Nationals

  1. Research And Physically View Property or Land
  2. Have The Building Surveyed 
  3. Negotiate And Finalize the Price
  4. Title Search, Very Important Step
  5. Get Approvals from the Interior Ministry and Ministry of Foreign Affairs. Apply Through the Absher app.
  6. Apply For And Obtain Mortgage & Pre Approval
  7. Arrange Payment and Prepare Documents
  8. Register and Visit the Notary Public Office (Ministry of Justice)  
  9. The signing of the Transfer of Deeds and final Visit To the Notary Public Office 
  10. Receive Title Deed In Your Name

Who Can Buy Property In Saudi Arabia?

Below is a list of persons and entities permitted the right to own or lease land or properties in Saudi Arabia

  • Non-GCC ‘Resident Foreign Nationals’ can own or lease one residential home. However, the following rules apply.
  • They require permission from the Ministry of Interior.
  • They cannot buy/lease property in Mecca & Madinah.
  • They are permitted inheritance property in Madinah and Mecca.
  • Gulf Cooperative Council (GCC) Nationals can buy or Lease 1 Residential Home/ Land, 3,000 m2 or less. Construction must be completed within 3-5 years of the registration date, or the Saudi Government will impose penalties for the delay. 
  • Companies from the Gulf Cooperative Council (GCC) states can buy or lease land/buildings for business only. They are prohibited from owning or leasing property in Mecca & Madinah.
  • Foreign Companies from non-GCC states can buy or lease (2 years renewable) property for and under the following conditions:
    • Business
    • Development
    • Projects for employee housing Must have a Foreign Investment License
    • Require permission from the Ministry of Foreign Affairs 
    • $8 million, SR 30 million or more for the project
    • Project to be completed within five years
    • Buying/leasing Mecca & Madinah property is prohibited
  • Foreign and GCC Companies can buy or lease (2 years renewable) property in Mecca and Medinah ONLY for 
    • business or development for financing Saudi nationals
    • must accord with SAMA rules 
    • must accord with Capital Market Authority (CMA) rules
  • Foreign Nationals holding Saudi Premium Residency can lease a single 3,000 m2 Residential Home/Land in Mecca or Madinah under Usufruct Rights for 99 years.
  • Foreign Missions can buy or lease:
  • Economic Cities. Foreign Nationals or Companies can buy or use the property for:
    • Economic Cities. They must comply with the rules of the Board of Directors of the Economic Cities Authority. 
  • Real Estate Investment Traded Funds (REITs) 
    • Non-resident foreign investors can trade units of REIT funds and shares. 

They Must:

  1. Generate 75% of income from the real estate project
  2. Pay 90% of earnings in dividends
  3. Contribute to the National Transformation Plan and Saudi Vision 2030 
  4. Have attractive diversified portfolios & give high dividends to Saudi investors

DISCLAIMER: The images/videos/logos showcased on this page are the property of their respective owners. We provide credit and sources wherever possible. However, If you find that your image/video is displayed on this blog without authorization, please contact us with the relevant details and a link to the image, and we will promptly address your concerns.