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.
