Non-Saudis will be allowed to invest for the first time in listed companies that own real estate in Makkah and Madinah

The chairman of the Board of Directors of the Saudi Capital Market Authority (CMA), Mohammed Elkuwaiz announced that non-Saudis would be able to make their first investments in listed firms that possess real estate in Makkah and Madinah. The authority is growing the debt market, making real estate contributions, and a variety of other fund-related activities in an effort to diversify financing products in the capital market this year.

Speaking on Monday at the Real Estate Future Forum in Riyadh, he stated that the administration plans to permit non-Saudis to make their first investments in listed businesses that hold real estate in Madinah and Makkah. The CMA has permitted non-Saudi contributions to financial market institutions for a real estate fund that invests all or a portion of its assets in a property inside the boundaries of Makkah and Madinah. He clarified that there is still a lot of room for the real estate industry to gain from various forms of capital market financing, including debt markets and offering and listing.

At the end of the third quarter of 2023, the volume of assets managed in the real estate funds sector was around SR170 billion, or one-third of the assets managed in the financial market. This indicates the rapid expansion of the real estate financing industry through the financial market.