Saudi has opened up foreign investment into real estate firms in its holy cities this week, a move that will support religious travel.

Foreign investment would be limited to shares, convertible debt instruments, or both and would exclude “strategic foreign investors” in Saudi Arabia.

Saudi Arabia's market regulator said on Monday it would allow foreign investment in listed companies that own real estate within Islam's two holiest sites of Makkah and Madinah. Saudi Arabia's market watchdog,

The Saudi Capital Market Authority (CMA) on Monday announced that foreigners can invest in Saudi-listed companies that own real estate in Makkah and Madinah. The decision is expected to increase avenues for the sector to secure financing.

Saudi Arabia has announced a landmark decision allowing foreign investment in listed companies that own real estate within Islam’s holiest cities, Makkah and Madinah. The move, unveiled by the Saudi Capital Market Authority (CMA), aligns with the Kingdom’s Vision 2030 strategy to diversify its economy and attract foreign capital.

Foreigners can now invest in Saudi-listed companies owning real estate in Makkah and Madinah, following a landmark decision by the Saudi Capital Market Authority. Saudi Arabia eases foreign investment rules for Makkah and Madinah real estate.

Saudi Arabia's market regulator revealed that foreign investors are now permitted to invest in publicly traded companies that own real estate in Mecca and Medina. This initiative is part of the kingdom's strategy to draw international investment and increase liquidity for projects in these prominent religious cities.