2000 News Story

GCC notified of new rules on foreign ownership of land

The Ministry of Finance and National Economy has notified the secretariat general of the Gulf Cooperation

Council (GCC) of the royal decree approving non-Saudi ownership of and investment in real estate in the

Kingdom. In a statement issued today, the secretariat declared that the new rules provide greater

advantages than the previous system, and are in conformity with regulations already granted to GCC