Saudi Arabia’s New Ownership Rules to Boost Foreign Demand in Makkah
Saudi Arabia’s recent move to allow non Saudis to own property in Makkah is due to boost foreign demand in Makkah, according to Masar CIO Tariq Sharaf.
January 30, 2026
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Saudi Arabia’s recent move to allow non Saudis to own property in Makkah is due to boost foreign demand in Makkah, according to Masar CIO Tariq Sharaf.
Saudi Arabia has opened real estate ownership to non-Saudis under its new law which was implemented on January 22nd, 2026.
Marriott International and Al Qimmah Hospitality have signed 5 new hotel projects to add more than 2,700 rooms across Jeddah, Makkah, and Madinah.
Marriott Marks 100 Hotels in Saudi Arabia with the Signing of Courtyard by Marriott Hotel
The Saudi Crown Prince has launched ‘King Salman Gate’, a mega 12 million sqm project in Holy Makkah next to The Grand Mosque, which will provide capacity for an additional 900,000 worshippers.
Saudi Arabia’s Ministry of Hajj and Umrah has introduced a major reform to allow all valid visa holders to perform Umrah.
The Saudi Central Bank has approved the use of “Visitor ID” to open bank accounts in Saudi Arabia.
Saudi Arabia’s housing market reached nearly $33 billion in deals during first half of 2025, according to Knight Frank Residential Market Overview.
Saudi Arabia’s Cabinet has approved a new law to allow non Saudis to own property in Riyadh, Jeddah, and under special conditions in Makkah and Madinah from January 2026.
Retal Urban Development is set to establish a $160 million real estate fund to build a 28 floor Residential Tower in Makkah’s Masar Destination.
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