Foreign nationals in the Kingdom of Saudi Arabia are still wondering about their ability to own and use real estate in the Kingdom. It’s important to note that Vision 2030 and other initiatives aim to boost the Saudi real estate sector and the Kingdom’s economy. These initiatives seek to attract foreign investors who want to settle and develop projects in the Kingdom, thereby increasing economic development.

We’ll discuss real estate ownership rules for foreigners in Saudi Arabia and the steps to buy property there.

What are the conditions for foreigners to own real estate in Saudi Arabia?

The Real Estate Law for Foreigners is a topic that deserves attention. This law clarifies the conditions and controls that foreigners must adhere to own real estate in Saudi Arabia. Here are the most important conditions that foreign residents and investors must adhere to when owning property in the Kingdom of Saudi Arabia:

Conditions for residents:

• A license from the Ministry of the Interior is required.
• Valid, non-expired residency required.
• All property details and a copy of the title deed must be available.
• Residents are allowed to own only one property.
• A criminal record is required to show no previous convictions.
• Must provide a health certificate proving that he/she is not exposed to infectious diseases.

For the investor:

• The cost of the project must not be less than SAR 30 million (Adjustable condition). 
• The investment must invest within 5 years of ownership.

For foreign representations and international and regional bodies:

• The Minister of Foreign Affairs must issue a license, and this is based on reciprocity.

We also recommend that you hire a certified real estate valuer to help you know the value of the property you intend to buy, as real estate valuation serves as one of the vital tasks in determining the fair value of the real estate especially for those interested in real estate investment and ownership, enabling you to know the cost of investment and the expected return to determine the most suitable real estate for ownership.

Aain Real Estate Valuation Company is one of the most important real estate valuation companies in the Kingdom, which has great experience in evaluating real estate in many areas of different types and has a team of experts in real estate valuation.

How to apply for ownership:

To apply, you must gather several documents and then register on the Absher platform:

• Attach a copy of the residence with a valid date.
• Attach a copy of the first passport with which you entered the Kingdom.
• Attach a copy of the birth certificate of children born in the Kingdom.
• Provide a letter from the employer stating the amount of monthly income and attesting to the applicant’s good behavior.
• Attach a copy of the title of ownership of the real estate to be owned, showing the capacity and names of the neighboring streets and the length of the house with the nearest possible point.
• Submit a written declaration from the applicant confirming the use of the real estate for his/her own and his/her family’s housing purposes.
• After completing the required documents, access the Absher e-platform to submit the application, log in and select the suitable service, then fill in the personal and property data in detail. After that, we’ll submit and confirm the application before sending it to the concerned authority.

Note that owning real estate can grant you premium residency in Saudi Arabia. This offers many advantages. To qualify, you must own property worth 4 million SAR. A certified real estate valuer must assess the property’s value. We recommend Aain Real Estate Valuation Company, as they can provide accurate valuations quickly through their professional experts.

In conclusion, the real estate ownership system for foreigners in Saudi Arabia allows both residents and investors to own and use real estate. Anyone who meets the regulations can gather the required documents and apply, taking into consideration contacting an accredited real estate valuer to evaluate the property they wish to own in order to prepare for future privileged residency.