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Saudi Arabia Officially Opens Property Ownership to Foreigners

A view of Riyadh, Saudi Arabia. (Reuters)
A view of Riyadh, Saudi Arabia. (Reuters)
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Saudi Arabia Officially Opens Property Ownership to Foreigners

A view of Riyadh, Saudi Arabia. (Reuters)
A view of Riyadh, Saudi Arabia. (Reuters)

Saudi Arabia opened a new chapter in its development drive on Thursday as a long-anticipated law allowing non-Saudis to own real estate came into force.

The step marks a pivotal shift in the Kingdom’s property framework, anchoring a revamped set of real estate laws designed to reposition the Saudi market from a largely domestic arena into a global investment destination.

The overhaul aims to draw foreign capital, individuals, and companies from across continents, capitalizing on the Kingdom’s political stability and steady economic expansion as one of the Middle East’s largest economies.

The updated system, approved by the Cabinet on July 8, 2025, caps a series of structural reforms under Vision 2030 and reflects the broader economic transformation reshaping the country. It seeks to deliver a secure and equitable investment environment aligned with international best practice.

Its objectives extend beyond financial considerations to include broader development goals, such as stimulating growth in the real estate sector by increasing project diversity and quality, and creating high-quality job opportunities for Saudi nationals in development and property-related services.

By enabling non-Saudis to own property, the Kingdom is laying the foundation for more dynamic and diverse communities, directly enhancing urban quality of life and fostering a competitive environment that raises standards for residential and commercial real estate projects alike. The move underscores stability and growth as defining features of the next phase.

Under the law, a “non-Saudi” is defined as a person who does not hold Saudi nationality, or owns a foreign company, a foreign non-profit entity, or any other non-Saudi legal person designated by a decision from the Cabinet.

'Saudi Real Estate' platform

As part of efforts to ensure transparency and protect rights, the General Authority for Real Estate announced that the “Saudi Real Estate” digital portal will serve as the official platform for managing ownership applications. User journeys have been designed to accommodate different categories:

Residents within the Kingdom can apply directly through the portal using their residency number, with requirements verified automatically and the process completed entirely online.

Non-residents outside the Kingdom must obtain the required digital identity from Saudi missions and embassies abroad before completing their application through the platform.

Foreign companies and entities without an existing presence in Saudi Arabia must first register with the Ministry of Investment through the “Invest Saudi Arabia” platform to obtain a unified number, then proceed to the “Saudi Real Estate” portal to complete the ownership process.

Geographic scope

The new system grants broad flexibility for ownership across the Kingdom, with particular focus on Riyadh and Jeddah as global economic and commercial hubs.

For Makkah and Madinah, a special regulatory framework has been established based on a “Geographic Zones Document,” details of which are set to be announced in the first quarter of 2026. The framework restricts ownership in the two holy cities to Muslims, whether inside or outside the Kingdom, and to Saudi companies wholly owned by Saudis, balancing investment openness with the cities’ religious status.

Under the law, a legally resident non-Saudi may own one residential property outside the designated geographic zones. Makkah and Madinah are excluded, with ownership there limited to Muslims.

Non-listed companies established under Saudi company law, in which one or more shareholders are non-Saudi or legal persons, are permitted to own property or acquire related rights within the designated zones, including Makkah and Madinah, for the purpose of conducting business activities and housing employees.

Listed companies, investment funds, and special purpose entities licensed under Saudi regulations may also own property and acquire related rights, including in Makkah and Madinah, in accordance with capital market laws, their executive regulations, and rules set by the Capital Market Authority in coordination with the Real Estate Authority and other relevant bodies.

Sustainable economic impact

The law translates Saudi Vision 2030 targets into action by attracting foreign direct investment and localizing real estate expertise through the entry of international developers and specialized companies.

The resulting activity is expected to stimulate related sectors, such as housing, trade, industry, and tourism, boosting the real estate sector’s contribution to non-oil gross domestic product on a sustainable basis.

Linking the ownership portal to the real estate title registration system provides the highest levels of legal certainty, strengthening foreign investor confidence in Saudi regulations and reinforcing the Kingdom's commitment to building a diversified, transparent, and innovation-driven economy.

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Business

TotalEnergies Output Down 15%; Operations at SATORP Refinery in Saudi Arabia Are Normal

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a gas station in Drancy, France March 17, 2025. REUTERS/Abdul Saboor/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a gas station in Drancy, France March 17, 2025. REUTERS/Abdul Saboor/File Photo
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TotalEnergies Output Down 15%; Operations at SATORP Refinery in Saudi Arabia Are Normal

FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a gas station in Drancy, France March 17, 2025. REUTERS/Abdul Saboor/File Photo
FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on a gas station in Drancy, France March 17, 2025. REUTERS/Abdul Saboor/File Photo

TotalEnergies has lost 15% of its oil and gas output as the US-Israeli war with Iran shuts fields across the Middle East, including in the UAE, Qatar and Iraq, the French oil major said on its investor website.

That output accounts for ⁠about 10% of ⁠Total's upstream cash flow, it added.

Total said its offshore production in the UAE is shut. The UAE produces around half its oil output from offshore fields.

The French firm said income from an $8 per barrel rise in oil prices that has occurred as a consequence of the ⁠war would ⁠more than offset the loss of output in the Middle East this year as it brings online additional production elsewhere.

Operations at its SATORP refinery in Saudi Arabia are normal, it added.

The impact of shutdowns in Qatar of liquefied natural gas production are limited to two million tons of LNG for Total.

Business

Oil Unlikely to Hit $200 a Barrel, US Energy Chief Says

A foreign tanker carrying Iraqi fuel oil damaged after catching fire in Iraq's territorial waters, following unidentified attacks that targeted two foreign tankers, according to Iraqi port officials, near Basra, Iraq, March 12, 2026. REUTERS/Mohammed Aty
A foreign tanker carrying Iraqi fuel oil damaged after catching fire in Iraq's territorial waters, following unidentified attacks that targeted two foreign tankers, according to Iraqi port officials, near Basra, Iraq, March 12, 2026. REUTERS/Mohammed Aty
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Oil Unlikely to Hit $200 a Barrel, US Energy Chief Says

A foreign tanker carrying Iraqi fuel oil damaged after catching fire in Iraq's territorial waters, following unidentified attacks that targeted two foreign tankers, according to Iraqi port officials, near Basra, Iraq, March 12, 2026. REUTERS/Mohammed Aty
A foreign tanker carrying Iraqi fuel oil damaged after catching fire in Iraq's territorial waters, following unidentified attacks that targeted two foreign tankers, according to Iraqi port officials, near Basra, Iraq, March 12, 2026. REUTERS/Mohammed Aty

US Energy Secretary Chris Wright said on Thursday that oil prices are unlikely to reach $200 a barrel, with President Donald Trump touting US gains from higher prices as the war with Iran disrupted traffic through the Strait of Hormuz.

"I would say unlikely, but we are focused on the military operation and solving a problem," Wright told CNN when asked if prices would reach $200 a barrel - a level that an Iranian official said prices could hit if the war further escalates, Reuters reported.

Wright's use of the word "unlikely" was a veiled concession that a spike to $200 was possible, though he repeated that the price jump would be weeks not months.

Brent oil hit all-time highs in 2008 of around $147 per barrel, on tension between the West and Iran over its nuclear program, a weak US dollar, and inflation fears.

This time analysts say oil prices could remain high because of the strait's unprecedented shuttering.

"Get ready for the oil barrel to be at $200 because the oil price depends on the regional security which you have destabilized," Ebrahim Zolfaqari, the spokesperson for Tehran's Khatam al-Anbiya military command headquarters, said on Wednesday.

Wright told CNN: "We're in the midst of a significant disruption in the short term to fix the security of energy flow for the long term." The administration was focused on "pragmatic solutions ... to get through these few weeks of tight energy supply," he said.

Trump wrote in a social media post: "The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money." He said he was more focused on stopping Iran from having nuclear weapons.

On Wednesday, Trump urged oil companies to travel through the strait despite the risks. "I think they should use the strait," Trump said. Asked if Iranian mines were in the strait, he added: "We don't think so."

Wright told CNBC on Thursday that the US Navy cannot escort ships through the Strait of Hormuz now but it was "quite likely" that could happen by the end of the month.

On Wednesday, more than 30 countries in the International Energy Agency agreed to the biggest-ever coordinated drawdown of global oil reserves of 400 million barrels, about 40% of which will come from the United States.

The war has forced Middle East Gulf countries to cut total oil production by at least 10 million barrels per day, about 10% of world demand. The IEA said on Thursday that is the biggest oil supply disruption in the history of the global market.

The US will release 172 million barrels of oil from the Strategic Petroleum Reserve, which Wright on Thursday said would be swapped with more than 200 million barrels that will be put back in the reserve within a year.

Wright told CNBC the energy shortages were less likely to affect the United States and other Western Hemisphere countries. "There's no shortage or even really tight oil market in the Western Hemisphere. The issue's in Asia."

US gasoline prices continue to spike 13 days into the war at an average of $3.60 per gallon, according to AAA. Rising oil prices are also likely to boost the costs of other goods, with the closed strait also stalling shipments of fertilizer ingredients and likely raising prices on household items that could hit consumers for months.

Trump had campaigned on lower gasoline and other prices, with Americans set to vote this November in midterm elections that will decide whether his fellow Republicans keep control of Congress.

Business

Saudi Arabia Named Top 10 Global Mining Investment Destination

A view of the skyline of the Saudi capital, Riyadh (SPA)
A view of the skyline of the Saudi capital, Riyadh (SPA)
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Saudi Arabia Named Top 10 Global Mining Investment Destination

A view of the skyline of the Saudi capital, Riyadh (SPA)
A view of the skyline of the Saudi capital, Riyadh (SPA)

Saudi Arabia has been named among the world’s top ten mining investment destinations in the Fraser Institute’s Annual Survey of Mining Companies 2025, one of the most respected global benchmarks for assessing mining investment environments and a key reference for international investors.

The report shows that the Kingdom’s mining sector has capped an unprecedented rise on the main ‘Investment Attractiveness Index,’ climbing 13 positions and improving its score by 14.3% within a single year, becoming the only Asian jurisdiction ranked among the world’s top ten mining destinations in 2025, SPA reported.

This milestone reflects a remarkable transformation of the Kingdom’s mining sector, rising from 104th place in 2013 to 23rd in 2024, and now firmly establishing Saudi Arabia as a top ten global destination for mining investment.

This global recognition is based on strong gains in the two fundamental sub-indices. In the ‘Policy Perception Index,’ Saudi Arabia jumped from 20th place last year to 4th globally, scoring 94.99. In the ‘Mineral Potential Index,’ it grew from 24th to 16th, with a score of 73.33. These results reinforce the Kingdom’s message that its investment competitiveness rests on two interlinked criteria: promising geological resources and a modern regulatory framework supported by clear and efficient governance.

Across the detailed policy criteria, Saudi Arabia achieved exceptional results, ranking first globally in three key categories. The Kingdom ranked first globally in ‘Uncertainty Concerning the Administration & Regulations,’ reflecting clarity of mining regulations and executive administration, It recorded a remarkable 558% improvement, driven by the implementation of the new Mining Investment Law and its legal system, the establishment of ESNAD (Saudi Mining Services Company) to strengthen oversight and compliance, and the automation of licensing procedures through the Ta’adeen digital platform.

Saudi Arabia also ranked first globally in ‘Regulatory Duplication and Inconsistencies,’ reflecting success in coordinated efforts across government entities. In addition, the Kingdom ranked first globally in the ‘Taxation Regime,’ strengthening investor confidence and improving the financial competitiveness of mining projects.

In related indicators, Saudi Arabia ranked second globally in ‘Uncertainty Concerning Environmental Regulations’ and third globally in ‘Uncertainty Concerning Disputed Land Claims.’ These results reflect the strength, clarity, and stability of the Kingdom’s environmental regulatory framework, as well as the effectiveness of policies governing land claims and community development. The rankings highlight the impact of coordinated efforts with the Ministry of Environment, Water and Agriculture, alongside structured approaches to managing community engagement requirements around mining operations.

The Kingdom also recorded a significant improvement in the ‘Infrastructure indicator,’ which includes access to roads and energy availability. This progress reflects ongoing efforts to enhance infrastructure, notably through the launch of the Mining Infrastructure Enablement Initiative at the fifth edition of the Future Minerals Forum, held in January.

These top rankings were accompanied by exceptional qualitative leaps, averaging over 100% in other critical criteria. The ‘Legal System’ criterion

improved by 211%, while the ‘Quality of Geological Database’ rose by 203% due to the inclusion of extensive geological survey data, establishing a more transparent and reliable investment environment.

Commenting on the achievement, Vice Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid bin Saleh Al-Mudaifer said the Kingdom’s entry into the global top ten reflects the depth of reforms implemented under Saudi Vision 2030 in the mining sector.

He noted that the ranking demonstrates the maturity and resilience of Saudi Arabia’s investment environment as the Kingdom positions itself to meet rising global demand for minerals.

Looking ahead, the vice minister added that the ministry will continue to strengthen the sector as a driver of industrial and economic growth by developing legislative and regulatory frameworks that enhance investor confidence and reinforce the Kingdom’s long-term competitiveness.

In addition, he said the Fraser Institute results provide independent international recognition of the rapid transformation underway in Saudi Arabia’s mining sector.

He further noted that ongoing efforts focus on improving the investor experience through greater transparency, faster licensing procedures, and reduced exploration risks, while strengthening supply chain localization and supporting the creation of high-quality employment opportunities.

These regulatory developments are translating into tangible investment outcomes. In 2025, Saudi Arabia issued 61 exploitation licenses for mine development, with investment valued at $11.73 billion (SAR44 billion), compared with 21 licenses in 2024, which represents an increase of 221%.

Active exploration companies increased from six in 2020 to 226 in 2024, representing more than 38‑fold growth. Meanwhile, the number of active exploration mining licenses reached 1,018 by 2025, compared with 500 licenses in 2020, reflecting a growth of approximately 104%.

Saudi Arabia’s Ministry of Industry and Mineral Resources continues to attract investment and facilitate the investor journey through competitive exploration licensing rounds. These rounds have seen unprecedented international interest from leading global mining companies and consortia, including Barrick Gold, Ivanhoe Electric, Shandong Gold, Hancock Prospecting, and Zijin Mining.

As part of these efforts, the ministry recently launched the 11th licensing round, opening competition for exploration licenses across eight mining sites in the regions of Riyadh, Hail, and Aseer, covering a total area of 1,878 km² and targeting deposits of gold, silver, copper, zinc, and iron ore.

To support early‑stage exploration and reduce financial risk, the report also highlighted the ‘Exploration Enablement Program’ as an effective tool for supporting exploration companies. The Kingdom has allocated over $182.67 million (SAR685 million) to the program for the period 2024–2030, targeting exploration licenses in their first five years and requiring participating companies to share geological data to accelerate knowledge exchange and improve the quality of investment decisions.

This advanced ranking and historic progress reflect Saudi Arabia’s continued success in advancing the objectives of Vision 2030: positioning mining as the third pillar of the national industrial base and strengthening the Kingdom’s role as a leading global investment destination and a trusted partner in securing future mineral supply chains.

The survey evaluated 68 mining jurisdictions worldwide, based on 256 responses from senior executives representing global mining companies.