AlUla Agrees to Enhance Palm, Date Production Ahead of Global Promotion

The Royal Commission for AlUla signs an MoU to enhance the palm and date sector. (SPA)
The Royal Commission for AlUla signs an MoU to enhance the palm and date sector. (SPA)
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AlUla Agrees to Enhance Palm, Date Production Ahead of Global Promotion

The Royal Commission for AlUla signs an MoU to enhance the palm and date sector. (SPA)
The Royal Commission for AlUla signs an MoU to enhance the palm and date sector. (SPA)

The Royal Commission for AlUla (RCU) signed a memorandum of understanding with the National Center for Palms and Dates (NCPD) to boost the palm and date sector.

The MoU also aims to achieve production efficiency from AlUla dates, ahead of promoting them locally and internationally.

The agreement includes improving the quality of the palm and dates sector in AlUla to produce crops of high economic value.

It also studies the establishment of centers dedicated to providing services to farmers, setting up workshops for them and those interested, and enabling distributors to market their produce through e-commerce.

Agriculture is one of the main economic sectors included in the Journey Through Time Masterplan, which aligns with the Vision for AlUla, and is in line with the Kingdom’s Vision 2030 to promote sustainable development in the governorate by investing all available factors in creating a diverse and prosperous economy.

Under the memorandum, the two parties will work to enhance understanding in their familiar fields, including inviting investors and those interested in the palm and dates sector to participate in the annual festival of dates in AlUla.

In addition, it includes presenting distinguished business models for existing facilities and services and motivating AlUla farmers to obtain the Saudi dates mark.

CEO of the National Center for Palms and Dates Mohammad al-Nuwairan said AlUla farms have a qualitative production center for many types of dates, which are very popular in the local and international market.

AlUla boasts more than two million palm trees with production exceeding 90,000 tons of dates annually.



New Chapter for Saudi Real Estate Market as Foreign Ownership Allowed

Residential and commercial properties in Riyadh – Asharq Al-Awsat
Residential and commercial properties in Riyadh – Asharq Al-Awsat
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New Chapter for Saudi Real Estate Market as Foreign Ownership Allowed

Residential and commercial properties in Riyadh – Asharq Al-Awsat
Residential and commercial properties in Riyadh – Asharq Al-Awsat

Saudi Arabia has approved a new law allowing non-Saudis to own real estate across the Kingdom, a move officials say will stimulate foreign investment, increase the quality and availability of housing stock, and help bring balance to the property market.

The decision, announced by the Council of Ministers on Tuesday, marks a shift in the structure of the real estate sector and aligns with the Kingdom’s broader strategy to diversify investment and improve urban development under its Vision 2030 reform agenda.

Municipal and Rural Affairs and Housing Minister Majid Al-Hogail said the new framework is expected to attract foreign developers and investors, increase competition in the domestic market, and ultimately help stabilize prices while improving housing options for Saudi citizens.

“A Strategic Restructuring”

“This step will encourage real estate supply and raise the quality of developments,” Al-Hogail said in a statement. “It supports the economic momentum and investment movement we are witnessing under Vision 2030.”

Khalid Al-Jasser, head of Amaken Group and a real estate specialist, said the updated system prioritizes Saudi citizens’ interests and will include mechanisms to regulate the market and achieve planned targets—chief among them, property market balance.

He added that the move would introduce global real estate standards to the Kingdom and draw capital to improve housing infrastructure, while creating jobs and lowering property prices.

“This is more than just an investment measure—it’s a structural shift,” Al-Jasser said.

Focus on Mega Projects and New Cities

Khaled Almobid, CEO of Menassat Realty Co., said the measure would allow foreign investors to buy properties in major development zones such as NEOM and the Red Sea Project—areas central to Crown Prince Mohammed bin Salman’s economic diversification efforts.

Almobid said the law is intended to protect Saudi homebuyers from being priced out of the market, while enabling high-value foreign investment that brings hard currency and supports large-scale development.

“The focus will be on strategic areas,” he said. “We expect foreign ownership will be restricted in districts designated for Saudi housing, with safeguards against speculation.”

He noted that details would become clearer once executive regulations are released.

Riyadh Housing Reforms

The foreign ownership law follows a series of housing reforms launched in March by Crown Prince Mohammed, aimed at curbing soaring land and rental prices in Riyadh.

As part of the measures, the government lifted bans on land sales, divisions, and permits, and instructed the Royal Commission for Riyadh City to develop 10,000 to 40,000 new residential plots annually over the next five years - priced at no more than 1,500 riyals ($400) per square meter - for eligible citizens.

Eligibility is limited to married Saudis or individuals over 25 years old with no prior property ownership.

The government also pledged to amend regulations governing undeveloped land fees and tenant-landlord relations within 60 to 90 days to boost supply and protect all parties’ rights.

The Real Estate General Authority and the Royal Commission were also tasked with monitoring Riyadh property prices and submitting regular reports.