Saudi Arabia will allow foreign capital to invest in Islam’s two holiest cities. Foreigners will be able to buy shares (up to 49 per cent) but direct ownership of real estate is excluded. Jordan

In a major move, the Saudi Capital Market Authority (CMA) has granted foreign investors permission to invest in Saudi-listed companies that own real estate within the cities of Makkah and Madinah.

Saudi Arabia has announced a historic move, opening doors for foreign investments in publicly-traded companies that own <a target=_blank href=

RIYADH: Saudi Arabia has announced a landmark decision allowing foreign investment in listed companies that own real estate within Islam’s holiest cities, Makkah and Madinah.The move, unveiled b

The Saudi Capital Market Authority (CMA) on Monday announced that foreigners can invest in Saudi-listed companies that own real estate in Makkah and Madinah. The decision is expected to increase avenues for the sector to secure financing.

Saudi Arabia said it will begin allowing foreigners to invest in publicly-traded companies owning real estate in the holy cities of Makkah and Madinah for the first time as the kingdom looks to draw in more overseas investment.

The Saudi Capital Market Authority (CMA) has announced that foreigners are allowed to invest in Saudi listed companies in the Saudi capital market that own real estate within the boundaries of the cities of Makkah and Madinah, starting from Monday, January 27.

Saudi Arabia is now allowing foreigners to invest in publicly-traded companies owning real estate in Makkah and Madinah, aiming to attract overseas investment. Foreign ownership is capped at 49%. The move aligns with Saudi's Vision 2030 goals to boost the capital market and accommodate 30 million worshippers annually by 2030.