Aug 8, 2023
The birth of a new global economic metropolis on Saudi land.
Contents
Vision 2030
Legislations towards Modernity
The Modifications that Starred the Future
· The Owner’s Right to Use the Property
· Global Investment Opportunities Looming in the Horizon
· Allowing Non-Saudis to Own Properties
· The Rights of Non-Saudi Entities and Representations to Own Properties
Real Estate Transactions Authorized by Article Eight of the Royal Decree
The Saudi market has always been an attractive spotlight for all the aspirants towards a stable and consistent investment. Nevertheless, there were many obstacles limiting these investing potentials, and postponing its commencement into the Saudi market until now. Following this, KSA authorities have decided to implement a whole wave of evolution towards modern global economy, starting from stating legislations to guarantee the implementation of these aspirations.
Vision 2030
The Kingdom of Saudi Arabia is witnessing a historical turning point reforming the social and economic regulations and lifestyle in the kingdom. Indeed, since the day the Crown Prince, H.H. Mohammed bin Salman, has announced the agenda for Vision 2030, the kingdom has been a stage for climatic developments that annulled the previous restrictions and opened the door wide welcoming a new dawn into the kingdom to explore its economic potentials, and to unveil the newly crafted definition of KSA.
The items of this vision dictate radical changes in the economic process in general, and the urban in particular, as a modern wave of architecture has surged with the launching of the “New Murabba” company which will be managing the reformation of the new Downtown Riyadh. Basically, these changes aim at attracting new international investments into KSA, in order to turn the country into the economic metropolis of the Middle East, as well as the entire world in the near future.
To accelerate this transition in the kingdom, the Saudi authorities have issued “Program Q” that directed the global corporations to switch their headquarters in the Middle East to KSA. As an act of encouragement, the new legislations are offering new laws that facilitate owning and renting properties by non-Saudi entities and individuals, whether for residential or investment purposes.
Legislations towards Modernity
Even though the legislations authorizing non-Saudi’s ownership has existed since 2000, yet they imposed tight restrictions on such ownership, such as limiting the purpose of ownership to residential, or more than 30-million worth if it is commercial, and that the buyer must obtain the approval of the Ministry of Home Affairs in either case. Accordingly, the Ministry of Investment has launched a project that proposes wider accessibility for non-Saudis to own a property in KSA. Moreover, while properties in Mecca and Medina were previously restricted areas to non-Saudis, recent legislations have offered more uncomplicated options on certain areas within them specified by the authorities.
The Modifications that Starred the Future
· The Owner’s Right to Use the Property
This development is one of the most important factors paving the way for the implementation of the future investment vision of the Kingdom, as it demonstrates to the world the simplicity of the investment process nowadays in Saudi. Promoting such a positive impression on the Saudi market will invite more investments that will themselves establish the Kingdom’s vision on the expected economic and investment prosperity.
· Global Investment Opportunities Looming in the Horizon
The uprise in the Saudi economy brought the global spotlight searching for what outcomes this change will feature. Thus, issuing these legislations was an act of confirmation that the authorities have set the country up for an inclusive overture to welcome international investments into the kingdom, and that will dig a new well of job opportunities, leading, as such, to a double gain as it supports economy on one hand, and helps eliminate unemployment on the other.
· Allowing Non-Saudis to Own Properties
All the legislations are directed towards achieving the economic evolution proposed by the vision all around the kingdom. This will result in attracting new investment opportunities into the kingdom, where the authorities will be channelling them into designated areas, leading to an inclusive economic growth in those areas. Real estate growth will premiere these developments, such as the modern metropolis, Neom, taking its shape now on a Saudi land. Moreover, any transaction implemented in KSA will require property fees and taxes to be paid to the government, in addition to its presupposed support for the construction sector in KSA, and the final destination of all these profits is the general domestic product.
· The Rights of Non-Saudi Entities and Representations to Own Properties
Article 8 in the new legislations, which replaced the previous system of property ownership by non-Saudis in KSA, issued by the Royal Decree No. (M/22) dated 7/12/1390 AH, specified real estate transactions for non-Saudi residents and investors as follows:
- Sell
- Netting «barter»
- Loan
- Rent
- Foreclosure
- Endowment
- Giveaway
- Reconciliation
In order to be able to exercise any of those ownership rights, the non-Saudi owner is required to comply with the controlling rules and procedures, regulating the authorization to practice any of the activities or ends he wishes to carry out, and to follow the procedures governing the ownership registration.
Article 8 of the Royal Decree also demonstrated several reasons for the natural or legal person to own a property. These reasons mainly include:
· Land donation from the guardian «grants»
· Compensation for the property, that includes “sale contract”
· Inheritance and will
· Giveaway
The owner is compelled by the legislations to handle the investment in accordance with the regulations and procedures governing their use of the kingdom’s properties, the decisive judicial rulings, and the compulsory judicial enforcement.
The project indicated that the ownership of the property, whether it is real estate units or estate in lands, must be according to one of these reasons, and it is not valid to transfer the property except after documenting the property in the land register, in accordance with the provisions of the regulations compatible with the nature of the case.
Based on these decisions, the features of an economic revolution prevailing over the Kingdom have begun to materialize in order to achieve the aspirations of the Saudi leadership in transforming the entire country, particularly the capital Riyadh, into the premium investment destination in the world, and the main economic centre in the Middle East.
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March 25, 2025
In a move reflecting Saudi Arabia’s commitment to environmental protection and biodiversity conservation, Saudi officials announced the relocation of a global project in the futuristic city of Neom due to the discovery of a rare plant species found exclusively in that location. This decision came under the direct order of HRH Crown Prince Mohammed bin Salman, emphasizing the priority of environmental conservation in Saudi Vision 2030.
During the planning of a luxury resort in one of Neom’s valleys, experts discovered a rare plant species that grows only in that mountainous area and had never been documented elsewhere in the world. This placed the team in a difficult position: proceed with the massive investment project or protect this unique plant.
As recounted by Prince Abdulaziz bin Turki Al-Faisal, Saudi Minister of Sports, on the program "Hikayat Waad" on MBC, the Crown Prince immediately ordered the project to be relocated and the original site to be turned into a natural reserve to protect the plant. The species was officially registered under the name "Neom", honoring the project that sacrificed financial gains for environmental preservation.
Neom adopts a unique environmental philosophy, aiming to dedicate 95% of its land as protected natural reserves, making it a model for sustainable development that balances urbanization and nature conservation. Key initiatives include:
The Neom plant story is not the only example of Saudi leadership’s environmental dedication. Bandar Al-Khorayef, Minister of Industry and Mineral Resources, shared another instance where the Crown Prince rejected a mining investment in a protected area, humorously remarking:
"Did you search the entire country and only find this spot?"
This led to a revision of Saudi Arabia’s investment map to exclude protected zones.
The story of the rare Neom plant is not just an isolated event but a powerful statement from Saudi Arabia that true development does not come at nature’s expense. While other nations prioritize short-term economic gains over the environment, the Kingdom sets a global example in combining economic growth with ecological sustainability, reinforcing its role as a pioneer in protecting the planet for future generations.
March 23, 2025
Eid al-Fitr is a joyous religious and social occasion that marks the end of the holy month of Ramadan. Families and friends come together to celebrate, and Saudi Arabia stands out as a prime tourist destination during this time. With its diverse attractions ranging from historical sites to natural wonders and entertainment hubs, the Kingdom offers an unforgettable holiday experience. In this article, we’ll explore the best tourist destinations and activities to enjoy during Eid al-Fitr 2025.
As the capital of Saudi Arabia, Riyadh is a city that blends modernity with tradition. It boasts a variety of tourist attractions, including:
A breathtaking natural wonder offering stunning views from the top of the Tuwaiq Escarpment.
A historic castle dating back to the 19th century, symbolizing the unification of the Kingdom.
A skyscraper featuring a luxury shopping mall, fine dining restaurants, and panoramic city views.
A must-visit for history enthusiasts, showcasing Saudi Arabia’s rich heritage from ancient times to the modern era.
Known for its stunning beaches and rich culture, Jeddah is a perfect destination for Eid celebrations:
A mosque that appears to float on the Red Sea, offering a serene and picturesque setting.
A family-friendly waterfront with restaurants, cafes, and recreational activities.
A UNESCO World Heritage Site featuring traditional houses adorned with intricate wooden balconies (Mashrabiyas).
AlUla is one of Saudi Arabia’s most iconic destinations, combining ancient history with breathtaking landscapes:
An archaeological site with Nabatean tombs carved into rock formations.
A tranquil retreat surrounded by palm trees and natural springs.
A unique rock formation resembling an elephant, perfect for photography.
Abha’s mild climate and stunning scenery make it a favorite for nature lovers:
The highest peak in Saudi Arabia, offering mesmerizing views of mist-covered mountains.
A heritage village showcasing traditional architecture and local crafts.
A family-friendly park with recreational activities and scenic walking trails.
Located off the coast of Jazan, the Farasan Islands are a haven for beach and marine enthusiasts:
Al-Ahsa is renowned for its lush palm groves and rich history, recognized as a UNESCO World Heritage Site:
The largest palm oasis in the world, home to over 2.5 million palm trees.
Natural caves formed by erosion, perfect for exploration.
A traditional market offering local products and handicrafts.
Tabuk, in the north of Saudi Arabia, is known for its historical and natural attractions:
Dammam is famous for its beaches and modern shopping centers:
An artificial island with a zoo, amusement park, and family-friendly activities.
A waterfront area ideal for walking, cycling, and picnics.
One of the largest shopping centers in the region, featuring a variety of stores and restaurants.
Taif’s moderate climate and natural beauty make it a popular destination for families:
Umluj is known for its golden beaches and crystal-clear waters, making it a paradise for beach lovers:
In conclusion, Saudi Arabia is a comprehensive tourist destination offering diverse experiences for all tastes. Whether you’re seeking relaxation on pristine beaches, exploring ancient history, or embarking on natural adventures, Eid al-Fitr 2025 is the perfect opportunity to discover the treasures of the Kingdom. Plan your trip now and create unforgettable memories with your loved ones!
March 20, 2025
In a new step reflecting Saudi Arabia's commitment to achieving the goals of Vision 2030, the Ministry of Environment, Water, and Agriculture announced the launch of five major investment opportunities in the agricultural sector in the Al-Baha region. These opportunities, announced through the "Furas" platform, aim to enhance self-sufficiency in agricultural products, increase local production, support food security, and attract both local and international investments.
The opportunities include the establishment of an integrated agricultural city dedicated to cultivating prickly pear (cactus fruit), as well as four agricultural cities specialized in growing coffee (Arabica) trees. According to the ministry's statement, over 2.2 million square meters will be allocated for the prickly pear agricultural city, while the coffee cultivation cities will span more than 2.3 million square meters in the Baljurashi governorate of the Al-Baha region, which boasts an ideal climate and environment for these high-quality crops.
Through these projects, the Kingdom aims to achieve several strategic goals, including:
This initiative aligns with the Kingdom's efforts to diversify income sources and reduce dependence on oil, with the agricultural sector being one of the key pillars for achieving this goal. These projects also reflect Saudi Arabia's commitment to sustainable economic development and strengthening its position as a regional hub for agricultural investment.
These investment opportunities represent a significant step towards enhancing the agricultural sector in Saudi Arabia, contributing to food security and supporting the national economy. Through these projects, Saudi Arabia demonstrates its commitment to achieving Vision 2030 by diversifying the economy and creating promising investment opportunities. This move not only supports the agricultural sector but also reinforces the Kingdom's position as a leading investment destination in the region.