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 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. The decision “aims to stimulate investment,

Foreign investment would be limited to shares, convertible debt instruments, or both and would exclude “strategic foreign investors”

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

Saudi Arabia aims to welcome 30 million pilgrims for Haj and the year-round pilgrimage umrah annually by 2030. In 2019, it earned about $12 billion from the two pilgrimages, according to official data.

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.

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 landmark decision allowing foreign investment in listed companies that own real estate within Islam’s holiest cities, Makkah and Madinah. The move, unveiled by the Saudi Capital Market Authority (CMA), aligns with the Kingdom’s Vision 2030 strategy to diversify its economy and attract foreign capital.

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.

Real estate experts have welcomed Saudi Arabia’s decision to allow foreign investment in real estate companies in the Makkah and Madinah regions. They said it will attract more foreign capital, speed up major projects,