Ready to Invest? Saudi Arabia's New Law Allows Foreigners to Buy Real Estate

Real estate in Saudi Arabia!

Are you ready to hear some exciting news from Saudi Arabia’s real estate sector? Well, hold on to your hats because Abdullah Alhammad, the CEO of the Real Estate General Authority (REGA), has some juicy details to share with us!

Abdullah Alhammad (@a_salhammad), CEO of the Real Estate General Authority (REGA), acknowledged that real estate prices are high owing to a gap between demand and supply in #SaudiArabia.https://t.co/vKVDG0fLlF
— Saudi Gazette (@Saudi_Gazette) March 26, 2023

In a recent appearance on Rotana Khalejia Television’s Al-Liwan program, Alhammad admitted that real estate prices are skyrocketing due to a massive gap between demand and supply in the country. But fear not, my fellow property enthusiasts, because there’s a silver lining to this story.

Alhammad revealed that REGA is working on a brand new law that will allow foreigners to own real estate in Saudi Arabia soon. Yes, you heard that right! This means that you too can own your own slice of heaven in the beautiful kingdom of Saudi Arabia.

But what about the high real estate prices, you ask? Well, Alhammad agrees that the price hike is negative for the real estate sector. However, the new law for foreign ownership will help boost the market and balance the economy for the sector as a whole.

So, what are you waiting for? Get ready to pack your bags and make your way to the land of sand and sun because owning a piece of Saudi Arabia is about to become a reality for all foreigners.

Looks like Saudi Arabia’s real estate market is about to experience a major boost thanks to this new law. As they say, “Good things come to those who wait,” and it seems like the wait is almost over for foreign property buyers!

Ready to Invest? Saudi Arabia’s New Law Allows Foreigners to Buy Real Estate

Real estate in Saudi Arabia!

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