RIYADH: Amendments to investment and real estate laws by the Saudi Ministry of Investment aim to boost foreign investment in properties in the Kingdom.
The proposed regulations also aim to increase competition in the real estate sector.
The ministry noted that the amendments in the law aim to enhance regulations related to the ownership and use of real estate by non-Saudis with a natural and legal personality.
The law also embodies the use of properties in Saudi cities and economic zones that are targeted for development, including the holy cities of Makkah and Madinah.
To implement these amendments, the ministry has invited public feedback on proposed changes to the law.
The general public can give feedback until May 18.
