Saudi banks, mortgage firms allowed to finance expats to own homes: report

01/07/2018 Argaam

 

The Saudi banks and real estate mortgage firms, authorized by the Saudi Arabian Monetary Authority (SAMA), have been allowed to finance non-Saudis for home ownership and easement within Makkah and Madinah, Al-Jazirah newspaper reported, citing unnamed sources close to the matter.

 

According to the real estate ownership and investment by non-Saudis, expatriates may only have the right to ownership, easement or benefit from a real estate located in Makkah and Madinah by way of inheritance.

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