Riyadh. Saudi Arabia will now allow foreigners to buy property. The new law will be announced soon. This is expected to mark the beginning of a new boom in freehold real estate property in the Bay Area. Right now land ownership is limited to Saudi citizens and entities.
The new law will also open up new possibilities for Indians to buy properties in Saudi Arabia, who are leading the way in buying properties in Dubai. Last year Indians bought properties worth 35,500 crores in Dubai.