Saudi Arabia's market regulator revealed that foreign investors are now permitted to invest in publicly traded companies that own real estate in Mecca and Medina. This initiative is part of the kingdom's strategy to draw international investment and increase liquidity for projects in these prominent religious cities.

Saudi Arabia's decision to allow foreign investment in Mecca and Medina real estate opens new opportunities for global investors while boosting economic diversification under Vision 2030.

The kingdom has also reoriented its spending from overseas into its domestic market. One indicator of this was that in 2024, the UAE’s Mubadala surpassed Saudi Arabia’s Public Investment Fund (PIF) as the world’s most active sovereign wealth fund.

Saudi Arabia's market regulator announced on Monday that foreign investors can now invest in listed companies owning real estate in Mecca and Medina. The move is part of the kingdom's efforts to attract global investment and enhance liquidity for projects in these key religious cities.

Saudi Arabia on Monday said foreigners are from now on allowed to invest in Saudi-listed companies that own property in Mecca and Medina, Islam's two holiest cities.

Why are Saudi doing this? So for a long time, the holy cities were off limits to non-Muslim investors. And in Saudi Arabia, there has been a prohibition on investment by foreigners in those cities to avoid driving up prices too much.