Allowing foreigners to invest in real estate companies listed in Mecca and Medina

The Capital Market Authority has announced that foreigners allow investment in Saudi companies listed in the Saudi financial market, which owns permanent or temporary real estate within the borders of the cities of Makkah Al -Mukarramah and Al -Madinah Al -Munawwara (Non -Saudi) according to a system of non -Saudi ownership of the property and its investment.
Through this declaration, the authority aims to stimulate investment, raise the attractiveness and efficiency of the financial market, enhance its competitiveness regionally and internationally and support the local economy, by attracting foreign capital, in addition to providing the necessary amount of liquidity for projects in Makkah and Madinah, whether existing or future through Investment products available in the Saudi market are funded for these specific development projects.