You will not believe who are the only category of foreigners residing in Saudi Arabia who were allowed to own housing?
According to real estate trainer Hasan bin Ishq Al-Atriz, non-Saudi foreigners residing in the Kingdom can own real estate according to the different categories of residency. There are three main categories: ordinary residence, investor residence, and diplomatic residence. People in these categories are required to obtain the approval of the Ministry of Interior to purchase residential real estate.
As for the privileged residency category, it is entitled to purchase real estate without the need for the approval of the Ministry of Interior. For the distinguished investment residency category, it has the right to purchase real estate in the name of its investment company, subject to the approval of the Investment Committee.
For the regular residence category, residents who own an old residence have the right to be the owners of villas, apartments, or residential lands, and they can purchase through Absher. It is important for them to know that they are not eligible to purchase real estate owned by the Ministry of Housing, and can only buy real estate through the real estate developer.
For residents, they have the right to rent residential units through a rental network that includes a fund that allows a non-Saudi owner to rent his unit. They are entitled to rent only one residential unit, and the purchase takes place without any fees, and the right of ownership is transferred in the name.
Non-Saudi foreigners can also buy real estate in installments through banks and companies approved by the Central Bank. There is no tax on non-Saudi real estate purchases, but a real estate transaction tax is imposed on residential purchases.
It is likely that non-Saudis are not allowed to own property in Makkah Al-Mukarramah and Al-Madinah Al-Munawwarah.
Please note that this information is based on the statements of real estate trainer Hassan Bin Ishq Al-Atriz, and legislation and policies related to owning real estate may change, so it is advised to check official sources for the latest information and directions.
