Saturday, June 7, 2025
-Advertisement-

Saudi Arabia Opens Real Estate-Linked Investments in Makkah, Medina to Foreigners

- Advertisement -

Saudi Arabia has announced a policy change allowing foreign investments in listed companies with real estate holdings in Makkah and Medina, aiming to attract global capital and boost liquidity for projects in these holy cities.

The Capital Market Authority (CMA) stated the decision aligns with the Kingdom’s Vision 2030 goals to diversify the economy away from oil by leveraging pilgrimage revenues. The move will enable foreign investors to purchase shares or convertible debt instruments in such companies, though strategic foreign ownership remains restricted.

- Advertisement -

Foreign investors will be limited to a maximum of 49% ownership of these firms’ shares.

Key players like Jabal Omar Development Company and Makkah Construction and Development Company saw significant gains, with their shares surging 10%. Saudi Arabia’s benchmark index also witnessed an upward trend following the announcement.

The Kingdom plans to host 30 million Hajj and Umrah pilgrims annually by 2030, capitalizing on a sector that generated $12 billion in 2019. Expanding pilgrimage capacity forms a critical pillar of its economic reform agenda.

Since opening its bourse to foreign investors in 2015, Saudi Arabia’s stock market—valued at $2.72 trillion—has experienced increased activity, with this policy marking another step to attract international investments.

- Advertisement -

Stay updated with the latest and breaking news directly on your mobile phone by joining Headline PK's WhatsApp group!

 

 

Latest stories

-Advertisement-

Highlights of the Week
Related

Pakistan to Witness Nearly 7 Million Animal Sacrifices on Eid-ul-Adha

Pakistan is expected to witness the sacrifice of more...

Bank Alfalah partners with IBA and PAQI to launch Karachi’s first scientific Emissions Inventory Report

Marking World Environment Day, Bank Alfalah, in collaboration with...

foodpanda prioritizes rider well-being with successful Safety & Health Week

foodpanda, Pakistan’s leading online delivery platform, recently concluded its...

US Tech Fund commits $10 million to 2 Pakistani IT entrepreneurs 

Pakistan's two IT entrepreneurs-- Mehwish Salman Ali and Malik...
-Advertisement-
Join our Whatsapp Group for Exclusive News!
Join our Whatsapp Group for Exclusive News!