RIYADH – The Shoura Council decided on Monday to stick to its earlier decision which barred non-Saudis from owning property or making investments in Makkah and Madinah.
The Shoura session was chaired by its President Sheikh Abdullah Al-Asheikh, the Saudi Press Agency reported.
Yahya Al-Samaan, assistant president of the Council, said that the Council listened to a report presented by Abdurahman Al-Rashid, president of the Economic and Energy Committee of the Council, containing the proposal to define the term “non-Saudi” in Article 5 of the Non-Saudi Ownership Law for Properties and Investment.
Al-Samaan said the Council examined the proposal in line with Article 17 of the Shoura Law. Accordingly, the Council decided to stick to its earlier decision taken two years ago with regard to the definition of the term.
According to the decision, the term “non-Saudi” covers all those who do not have a Saudi citizenship.
Non-Saudi companies as well as Saudi companies established or participated in establishing by non-Saudis or owned shares by non-Saudis will also come under the purview of “non-Saudi,” he added.
Article 5 of the Law stipulates that non-Saudis can own property only if they inherited it. They are not entitled to property rights if the property was linked to endowment and if the Supreme Council of Endowment has a supervisory role in it.
Non-Saudis have the right to lease property in Makkah and Madinah for two years and this can be renewed for similar periods of time.
