The Saudi Council of Ministers has officially approved the executive regulations for the Law of Real Estate Ownership by Non-Saudis, marking a transformative step in the Kingdom’s real estate market.
This regulation, which identifies specific geographical zones for foreign ownership in Riyadh, Jeddah, Makkah, and Madinah, complements the legal framework introduced earlier this year to support Saudi Arabia’s Vision 2030 and attract international investment.
For Talaat Moustafa Group (TMG) Holding, this development serves as a significant growth catalyst.
The Group’s flagship project in Saudi Arabia, Banan, a 10-square-kilometer integrated community in north-east Riyadh, is uniquely positioned to meet the anticipated rise in demand from foreign buyers for high-quality, premium residential assets.
Furthermore, these regulations are expected to provide additional momentum to TMG’s pipeline of projects under its memorandum of understanding with the Public Investment Fund (PIF), as the Kingdom continues to evolve into a premier global hub for urban development and sustainable integrated living.
