Saudi CMA bans foreign ownership in Makkah, Madinah realty funds

26/03/2017 Argaam

Saudi Arabia’s market regulator, the Capital Market Authority (CMA), has directed listed companies and authorized persons to not allow foreign ownership in real estate funds investing in Makkah and Madinah, Aljazeera newspaper reported, citing unnamed sources.

 

Foreigners lately sought to invest in realty funds based in Makkah and Madinah through Saudi agents, as they generate high yields.

 

Non-Saudi Muslims, meanwhile, have the right to lease these real estate properties for a two-year renewable term, it was reported.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.