Saudi Arabia to open real estate funds to non-Saudis

The Capital Market Authority (CMA), has called on Saudi-based real estate funds to accept subscriptions from non-Saudi investors.

More specifically, the regulator’s call refers to funds that invest in assets within the boundaries of Makkah and Madinah.

In a statement, the CMA said that the capital market institutions managing these funds must comply with the Law of Real Estate Ownership and Investment by Non-Saudis.

The move is part of the kingdom’s strategy to diversify its economy by attracting more foreign investors.

Saudi Arabia’s Council of Ministers have already approved companies listed on the Saudi exchange or Tadawul to invest in these funds.

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