Trending Today:
Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project
PIA Resumes | Lahore-Paris Flights After 5 Years
Etihad Goes | Four Daily To Karachi
  • Aviation
    • Airlines
    • Airports
    • CAA
    • PIA
  • Hotel/Lodges
    • Destination Pakistan
    • Events
    • Food & Beverages
    • Restaurants
  • Pakistan Tourism
    • News
    • Expos & Events
    • Rails & Roads
    • Mountains
    • Organizations
  • International Tourism
    • Cruises
    • Destination
    • Expo & Events
    • News
    • News Destination
    • Organizations
    • Technology
  • Advertise
  • E-papers
  • Newsletter
  • Aviation
    • Airlines
    • Airports
    • CAA
    • PIA
  • Hotel/Lodges
    • Destination Pakistan
    • Events
    • Food & Beverages
    • Restaurants
  • Pakistan Tourism
    • News
    • Expos & Events
    • Rails & Roads
    • Mountains
    • Organizations
  • International Tourism
    • Cruises
    • Destination
    • Expo & Events
    • News
    • News Destination
    • Organizations
    • Technology
  • Advertise
  • E-papers
  • Newsletter
Home»Latest News»Saudi Arabia Allows | Listed Firms to Buy Land in Makkah, Madinah
Latest News

Saudi Arabia Allows | Listed Firms to Buy Land in Makkah, Madinah

holidayweeklyBy holidayweeklyMay 19, 2021No Comments
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

RIYADH: In a major move, Saudi Arabia has granted permission to companies listed on the Saudi Stock Exchange (Tadawul) to buy real estate in Makkah and Madinah.

 This comes following the approval from the Council of Ministers amending Article 5 of the Law of Real Estate Ownership and Investment by non-Saudis under which listed Saudi companies are exempted from the prohibition of non-Saudis owning real estate within the borders of Makkah and Madinah, reported Saudi Gazette.

 As per this law, a non-Saudi investor with a natural or corporate personality is licensed to practice any professional, vocational, or economic activity may acquire the real estate necessary for practicing the activity in Makkah and Madinah.

 It is also stipulated that such real estate be invested within five years from its acquirement, stated the report.

 The amendment, approved by the cabinet, included listed companies in the purview of those permissible to own and invest in properties in Makkah.

 The cabinet had earlier approved the law and a royal decree was issued in this regard in 2019.

The new amendment made in the law read as follows: “Companies Listed in the Saudi Stock Exchange, according to controls set by the Capital Market Authority in coordination with the relevant authorities.”

 The amendment was made following a recommendation by the Council of Economic and Development Affairs and the General Committee for the Council of Ministers and a decision of the Shoura Council, the report added.

Post Views: 7
volume 73-2021
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
holidayweekly
  • Website

Related Posts

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

PAA To Construct | New Airports At Sukkur and Muzaffarabad

April 28, 2025

Air France – KLM Signs Gerry’s Group | As New client in the Corporate Sustainable Aviation Fuel (SAF) program

April 26, 2025
Leave A Reply Cancel Reply

Top Posts

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

Time to meet the Muppets on the Muppet

July 12, 2018

The world don’t move to the beat

July 12, 2018

You would see the biggest gift woud be from me and the card

July 12, 2018
Don't Miss
Airports

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

By holidayweeklyJune 26, 2025

GILGIT-BALTISTAN: The government has formally launched the upgrade project of Skardu International Airport, marking a…

PIA Resumes | Lahore-Paris Flights After 5 Years

June 22, 2025

Etihad Goes | Four Daily To Karachi

June 15, 2025

Uzbekistan To Launch | Direct Flights To Pakistan On June 14th

June 14, 2025
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

Email Us: info@example.com
Contact: +92 321 9264 080

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

PIA Resumes | Lahore-Paris Flights After 5 Years

June 22, 2025

Etihad Goes | Four Daily To Karachi

June 15, 2025
Most Popular

Govt Launches | Rs180mn Skardu Int’l Airport Upgrade Project

June 26, 2025

Time to meet the Muppets on the Muppet

July 12, 2018

The world don’t move to the beat

July 12, 2018
© 2025 Weekly Holiday. Designed by Haseeb Ansari.

Type above and press Enter to search. Press Esc to cancel.