The Saudi Capital Market Authority (CMA) has announced that foreigners are allowed to invest in listed Saudi companies that own real estate in the cities of Makkah and Madinah, effective from Monday, January 27, Invest-Gate reports.

The CMA decision follows the approval of the controls for the exclusion of companies listed in the Saudi Stock Exchange (Tadawul) from the meaning of the phrase (Non-Saudi) in accordance with the Law of Real Estate Ownership and Investment by Non-Saudis.

It is worth noting that in 2021, the CMA allowed non-Saudis to subscribe to real estate funds investing within the boundaries of Makkah and Madinah. This move contributed to the reliance on the capital market as a diverse financing channel and supported the objectives of Saudi Vision 2030, which aims to make the Saudi capital market attractive to both local and foreign investments.