RIYADH: Saudi Arabia is poised to become a major player in the real estate market, potentially surpassing Dubai. The property market in Riyadh alone is valued at over $600 billion.
Previously, buying property in Saudi Arabia required residency, but this restriction has now been lifted. Starting January 1, 2026, non-residents will be able to purchase property with ease. Using a digital ID, individuals can open bank accounts, obtain mobile SIM cards, and receive OTPs without needing to live permanently in Saudi Arabia or hold a residence permit.
The new regulations will create an open real estate market similar to Dubai, but on a much larger scale. Saudi Arabia’s land area is 2.3 million square kilometers, compared to Dubai’s 4,000 square kilometers.
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Under the new rules, non-Muslims will be able to buy property anywhere except in Mecca and Medina, while Muslims can purchase property anywhere, including Mecca and Medina.
Additionally, residents will enjoy several benefits, including the ability to buy goods on six-month installment plans without interest, purchase vehicles on installments, obtain loans, access free education in government schools, and run businesses without a sponsor. Skilled professionals in 13 key sectors may even be eligible for Saudi nationality by contributing a substantial investment to the government.
This move is expected to open up Saudi Arabia’s property market to global investors and transform the kingdom into a major hub for real estate.
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