Srinagar: In a major policy reform, Saudi Arabia is set to implement a new law regulating property ownership by non-Saudis, effective January 2026, according to an official document reviewed by Okaz, a leading Saudi daily. The move is expected to open new avenues for foreign investors and expatriates, including thousands of workers from Jammu & Kashmir and other parts of India, to legally own property in the Kingdom for the first time under a clear regulatory framework.
The new law, to be administered by the Real Estate General Authority (REGA), establishes general rules for foreign ownership, including registration requirements, eligible ownership categories, fees, and penalties for non-compliance. However, the specific locations, types of properties, and required documentation will be announced later by REGA as part of detailed executive regulations.
According to reports, non-Saudis will be permitted to own only registered and verified properties, ensuring full transparency and alignment with Saudi Arabia’s Vision 2030 goals of boosting real estate investment and diversifying the economy. All buyers will need to disclose ownership details and related financial information as part of a stringent registration process designed to prevent misuse and ensure regulatory oversight.
For a sizeable Kashmiri diaspora in Saudi Arabia, especially professionals, skilled workers, and entrepreneurs who have lived there for years, the new law offers a potential opportunity to invest in residential or commercial property legally rather than through intermediaries or local sponsorships.
Financial experts say the regulation could provide long-term stability and encourage more structured remittances from overseas Indians. “This policy shift could allow non-Saudi residents from regions like Jammu & Kashmir, who have contributed to the Saudi economy for decades, to finally have a sense of financial belonging and security,” said a financial consultant familiar with Gulf real estate policy.
Observers note that the Real Estate General Authority’s upcoming guidelines will clarify whether ownership will extend to specific cities or free zones, and whether long-term residents will be prioritized. Until then, expatriates are advised to await official announcements and consult authorized real estate or legal advisors before making any financial commitments.
Obsevers believe that with Saudi Arabia’s economy rapidly diversifying beyond oil and expanding its tourism and housing sectors, the 2026 property law could mark a transformative step in how expatriates — including those from J&K — engage with the Kingdom’s real estate market.
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