Regulations for the ownership of real estate by banks and real estate finance companies located within the boundaries of the cities of Mecca and Medina

Release Date:	1440-04-25
Release Tool:	Councils and commissions decisions
Issuance Instrument Number:	59890/99
Validity:	Valid
Summary:	By AI The document addresses the regulations governing the ownership of Real Estate by banks and real estate financing companies in Mecca and Medina, based on the authorities of the Saudi Arabian Monetary Authority. Licensed banks and companies are exempted from the prohibition on Real Estate ownership by non-Saudis, provided that the ownership is for the purpose of financing Saudi citizens or for their business premises. The regulations include general provisions and definitions, emphasizing the nece...

Release Date:

1440-04-25

Release Tool:

Councils and commissions decisions

Issuance Instrument Number:

59890/99

Validity:

Valid

Summary:

By AI

The document addresses the regulations governing the ownership of Real Estate by banks and real estate financing companies in Mecca and Medina, based on the authorities of the Saudi Arabian Monetary Authority. Licensed banks and companies are exempted from the prohibition on Real Estate ownership by non-Saudis, provided that the ownership is for the purpose of financing Saudi citizens or for their business premises. The regulations include general provisions and definitions, emphasizing the nece...