CMA says Saudi-listed firms can invest in real estate in Makkah, Madinah

15/05/2021 Argaam Special

Logo of the Capital Market Authority (CMA)

The Capital Market Authority (CMA) said that all Saudi-listed companies can now invest in real estate located in Makkah and Madinah. 

 

Foreigners can also invest in investment funds that own real estate within Makkah and Madinah, the market regulator told Argaam. 

 

Saudi Arabia’s Cabinet approved exempting all Saudi-listed companies from the prohibition stated in Article No. 5 of the Law on Real Estate Ownership and Investment by Non-Saudis.

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