Saudi Arabia allows foreigners to invest in firms with property in Mecca, Medina

Saudi Arabia: Mecca, Medina opens for foreign investors to boost development

Business & economy | World | The decision will allow foreigners to invest in companies whose revenues rely on the Islamic pilgrimage, one of the leading sources of revenue for the kingdom.

Saudi Arabia welcomes foreign investment into holy cities

Saudi Arabia will allow foreign companies to invest in Saudi companies that own properties in Mecca and Medina, possibly forshadowing a lift on its ban on foreigners in the holy cities

Saudi Arabia Opens Mecca and Medina Real Estate Firms to Foreign Investment - The Media Line

Saudi Arabia has announced a significant policy shift […] The post Saudi Arabia Opens Mecca and Medina Real Estate Firms to Foreign Investment appeared first on The Media Line.

The Saudi Capital Market Authority: Allowing Foreign Investment in Real Estate Listed Companies Operating in Makkah and Madinah

RIYADH, Saudi Arabia, Jan. 28, 2025 (GLOBE NEWSWIRE) -- The Saudi Capital Market Authority (CMA) has announced that foreigners are allowed to invest in Saudi listed companies in the Saudi capital market that own real estate within the boundaries of the cities of Makkah and Madinah, starting today. This follows the approval of the Controls for the Exclusion of Companies Listed in the Saudi Stock Exchange (Tadawul) from the Meaning of the Phrase (…

Saudi Arabia allows foreigners to invest in Makkah, Madinah property

Saudi Arabia’s Capital Market Authority (CMA) has announced a groundbreaking policy allowing foreign investors to invest in real estate companies operating in the holy cities of Makkah and Madinah. This initiative, effective immediately, is designed to attract foreign capital, boost the Saudi capital market, and support ongoing and future development projects in the two sacred cities. Also ReadPraying at Rawdah in Madinah: Nusuk platform offers …

Now foreigners can invest in Saudi firms that own property in Mecca, Madina

Saudi Arabia aims to welcome 30 million pilgrims for Haj and the year-round pilgrimage umrah annually by 2030. In 2019, it earned about $12 billion from the two pilgrimages, according to official data.