Riyadh: Non-Saudis who are legally residing in the Kingdom can now own one property, according to a report by Saudi Gazette.
The property may be land or a building located in a residential area. In respect of land, the land area shall not exceed (3,000 m2).
The right to own property for the purpose of housing must be for the owner or his family, with no right to use the property for another purpose unless permitted by the law of the state in which the property is located.
As per the report, the Absher platform has identified three requirements that expats must meet in order to buy a property in the Kingdom. Absher is a smartphone application which allows citizens and residents of Saudi Arabia to use a variety of government services.
The platform, with the support of the infographic, explained that the service allows residents to apply for a permit to own a property inside the Kingdom, with the following three conditions:
- The foreigner must have a valid and unexpired residence ID (resident).
- The resident must provide all information related to the property with a copy of the title deed.
- He or she shall not have other property in the Kingdom.
Absher explained that the service can be benefited from by entering “my services” (Khidmaty) on the Absher platform, then entering “services” (Khidmat), then “public services” (Al-Khidmatul Aamma), and from there to “request for obtaining real estate ownership.
Saudi Arabia to strictly regulate real estate ads
Only citizens will be allowed to advertise real estate in Saudi Arabia. This will be enforced in early September, local media reported.
New advertising controls aim to reduce fake real estate ads and enhance reliability and credibility.
The regulation also requires that advertisers be registered on the National Single Sign-On Platform (NAFAZ), provided that the advertiser is a property owner, legal agent, or real estate broker under written authorization or court order.
The general real estate authority has also issued licensing and classification requirements for electronic real estate platforms to enhance their reliability.
The authority warned that violators will face legal action.
Saudi Arabia’s shura council called on the real estate general authority, in coordination with the relevant authorities, to set clear regulations to encourage foreign investment in real estate, Gulf News reported.