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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

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Non-Saudis can now invest in real estate funds in two holy cities

By TRENDS Desk
November 8, 2021 4:58 pm
  • The ownership system for non-Saudis in the Kingdom stipulates that non-Saudis are allowed to own real estate for their own residence
  • It can happen after obtaining a license from the Ministry of Interior, and for foreign representations to own their official headquarters
The Capital Market Authority (CMA) of Saudi Arabia allowed the financial market institutions to accept the subscriptions of non-Saudis in the real estate funds that invests in assets within the boundaries of Makkah and Madinah.
A statement released by CMA said the ownership system for non-Saudis in the Kingdom stipulates that non-Saudis are allowed to own real estate for their own residence, after obtaining a license from the Ministry of Interior, and for foreign representations to own their official headquarters on the condition of obtaining a license from the Minister of Foreign Affairs.
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