Saudi: The Cabinet of Saudi Arabia, chaired by Crown Prince and Prime Minister Mohammed bin Salman, has approved a new law regulating property ownership by non-Saudis, marking a significant step in opening the Kingdom’s real estate market to foreign investment.

The decision came during the Cabinet's weekly session held in Jeddah on Tuesday, where ministers also discussed key international engagements and economic developments. The new legislation is seen as a move aligned with Vision 2030, aimed at diversifying the economy and boosting foreign participation across sectors.

Acting Minister of Media Dr. Essam bin Saeed said the session also highlighted Saudi Arabia’s growing global economic role, its leadership in digital safety initiatives, and its top rankings in cybersecurity and ICT development. The Cabinet additionally reviewed progress in national transport, irrigation, and social development strategies.

The new property ownership law is expected to attract increased foreign investment and support the Kingdom’s long-term urban development and economic transformation goals.