Saudi Arabia Allows Non-Saudis to Invest in Real Estate Funds in Makkah, Madinah

Saudi Arabia’s Capital Market Authority (CMA) permits subscription of non-Saudis in the real estate fund that invests within the boundaries of the cities of Makkah and Madinah, Asharq Al-Awsat
Saudi Arabia’s Capital Market Authority (CMA) permits subscription of non-Saudis in the real estate fund that invests within the boundaries of the cities of Makkah and Madinah, Asharq Al-Awsat
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Saudi Arabia Allows Non-Saudis to Invest in Real Estate Funds in Makkah, Madinah

Saudi Arabia’s Capital Market Authority (CMA) permits subscription of non-Saudis in the real estate fund that invests within the boundaries of the cities of Makkah and Madinah, Asharq Al-Awsat
Saudi Arabia’s Capital Market Authority (CMA) permits subscription of non-Saudis in the real estate fund that invests within the boundaries of the cities of Makkah and Madinah, Asharq Al-Awsat

Saudi Arabia’s Capital Market Authority has allowed the financial market institutions to accept subscriptions of non-Saudis in the real estate fund that invests part or all of its assets in a real estate located within the boundaries of the cities of Makkah and Madinah, CMA said in a statement on Monday.

The authority stressed the necessity of financial institutions to adhere to the provisions of the law that allows non-Saudis to own and invest in real estate of investment funds located within the boundaries of Makkah and Madinah, or when liquidating those funds.

“The CMA stressed that the capital market institutions must ensure compliance with the Law of Real Estate Ownership and Investment by non-Saudis when managing the investments of investment funds in real estate located within the boundaries of the cities of Makkah and Madinah and upon liquidation of those funds,” said a Saudi Press Agency report.

The authority said that the decision would contribute to relying on the financial market as a diversified financing channel, as well as strengthening the pillars of the Saudi Vision 2030, which aims to make the Saudi financial market attractive to local and foreign investment and able to play a pivotal role in developing the economy and diversifying its sources of income.

The CMA’s move aims to activate the role of investment funds as a tool for financing within its strategic plan.

It also hopes that the funds would contribute to financing many vital activities in the economy, such as the real estate and financial sector and the sector of small and medium companies, in addition to other activities such as refinancing businesses.

In other news, the Saudi Shura Council called on civil aviation authorities in the Kingdom to provide a competitive operating environment that attracts investors, establishes privatization processes, and supports technical innovation.

The Council also urged continuing to expand the recruitment of women.



Dell Drives Digital Transformation in Saudi Arabia Through 3 Decades of Innovation

Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files Purchase Licensing Rights
Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files Purchase Licensing Rights
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Dell Drives Digital Transformation in Saudi Arabia Through 3 Decades of Innovation

Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files Purchase Licensing Rights
Dell logos are seen at its headquarters in Cyberjaya, outside Kuala Lumpur in this September 4, 2013 file photo. REUTERS/Bazuki Muhammad/Files Purchase Licensing Rights

Saudi Arabia is leading the charge in digital transformation, with Dell playing a key role in the Kingdom’s technological growth over the past three decades.

The partnership between Dell and Saudi Arabia dates back to the early 1990s, and in the past 34 years, Dell has become a cornerstone of the kingdom’s digital infrastructure.

Adrian McDonald, President of Dell Technologies for Europe, the Middle East, and Africa, reflected on the deepening of this relationship, highlighting Dell’s integration into Saudi society.

The company has been instrumental in supporting local businesses, government projects, and education initiatives, particularly by offering IT training programs in collaboration with leading universities and facilitating exchange programs that bring Saudi youth to the US for advanced training.

Dell aims to localize as many of these tech skills as possible, recognizing the growing demand for technology expertise in the future.

The launch of Saudi Vision 2030 has created a fertile environment for technological innovation.

McDonald revealed to Asharq Al-Awsat that Dell has expanded its operations over the past 18 months, including the establishment of its first integration and logistics center in Dammam, which handles up to 600,000 units annually to meet increasing customer demand.

The Dammam center also houses a secondary manufacturing plant to customize Dell servers to meet specific needs.

The facility prepares servers for deployment, reducing lead times and improving customer satisfaction. Additionally, Dell has moved its flat-panel display center to the Dammam facility, allowing for faster delivery times, which enhances operational efficiency.

This new center is part of Dell’s commitment to strengthening Saudi Arabia’s information and communications technology ecosystem and is the company’s fifth such facility in the Europe, Middle East, and Africa region, reinforcing its support for Vision 2030.

As Saudi Arabia positions itself as a leader in artificial intelligence (AI), Dell plays a critical role in this transformation.

McDonald highlighted the rapid changes in the AI sector, emphasizing Saudi Arabia’s goal to become a global leader in AI.

Dell’s investments are not just aimed at supporting local businesses but also at helping position Saudi Arabia as a global center for AI development.

Dell’s AI-powered solutions are transforming various industries, from finance to healthcare, where they are reshaping processes and driving innovation.

Looking forward, McDonald is optimistic about Saudi Arabia’s potential to become a regional and global hub for AI services.

He pointed out that the kingdom has taken a leadership role in building platforms for growth, with the resources and ambition to drive transformative change in the coming years.