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Listed Saudi companies can own real estates in Makkah, Madinah May 07, 2021 Saudi Gazette report RIYADH Companies listed on the Saudi Stock Exchange (TADAWUL) can own real estate in Makkah and Madinah. The Council of Ministers approved the amendment of 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, according to the official Umm Al-Qura newspaper. According to the 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.

Saudi arabiaJeddahMakkahSomaliaSomaliMohamed hussein roblePrime ministerSomalia mohamed hussein robleGrand mosqueTwo holy mosquesசவுதி அரேபியாமக்காசோமாலியாசோமாலிமொஹாமெட் ஹுசைன் ரோபிள்ப்ரைம் அமைச்சர்