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Real Estate License
The Real Estate License in Saudi Arabia is essential for individuals and companies looking to engage in various business activities in the Kingdom. This license enables businesses to operate legally in the real estate sector, a vital component of Saudi Arabia’s economy, especially as the country aims to diversify and promote investment under its Vision 2030 initiative. Holding a Real Estate License allows entities to participate in buying, selling, leasing, and managing properties, catering to residential and commercial markets. Additionally, the license ensures compliance with local regulations and standards, fostering a transparent and regulated real estate environment that attracts both local and foreign investors. By obtaining a Real Estate License, businesses can capitalize on the growing demand for housing, commercial spaces, and infrastructure developments across Saudi Arabia.
Requirements for
Real Estate Investment
License in
Saudi Arabia
Minimum Investment Threshold
-
The total project cost, including land and construction, must be at least 30 million SAR.
Investment Timeline
-
The entire investment must be completed within the first five years of ownership.
Restricted Areas
-
Foreign investors are not permitted to own property in the holy cities of Makkah and Madinah.
Existing Foreign Company
-
The applicant must have a legally established company operating outside Saudi Arabia.
Required Documents from Parent Company
-
Commercial Registration (CR)
-
Financial Statements
-
Articles of Association/Memorandum
-
Shareholder Information
Common Activities Under
Real Estate License
in Saudi Arabia
Real estate development
Building or renovating residential, commercial, or industrial properties.
Real estate purchase and sale
Buying and selling real estate properties.
Real estate leasing
Renting out real estate properties to tenants.
Real estate management
Managing real estate properties, including maintenance, repairs, and tenant relations
Property Management
Leasing, and management of residential, commercial, and industrial properties.
Interesting Facts About the Real Estate Business Sector in Saudi Arabia
Market size
- Saudi Arabia's real estate market to hit $101.62 billion by 2029, growing at 8% from 2024-2029.
Housing Demand Projected
- Housing demand to rise from 99,600 units in 2021 to 153,000 units by 2030, with an average of 124,000 dwellings built each year.
Booming Market Growth
- Rapid expansion fueled by Vision 2030 initiatives and rising demand for residential, commercial, and mixed-use developments.
Office Space Demand
- The government's push for multinationals to relocate regional headquarters to Riyadh has led to increased demand for premium office spaces, driving up rental prices.
Affordable Housing Focus:
- Government-backed affordable housing projects through public-private partnerships and REITs address urbanization and population growth.