In force
Saudi GCC Nationals Real Estate Ownership Statute
تنظيم تملك مواطني دول المجلس للعقار في الدول الأعضاء بمجلس التعاون لغرض السكن والاستثمار
Covers renting and owning built properties and land for residential and investment purposes, the right to dispose of a built property at any time, that the statute does not conflict with the State's rights, and that it does not prejudice any rights.
- Articles
- 6
- In force
- 6
- Amended
- 0
- Issued
- 3/4/1432 AH
Issued by: مرسوم ملكي رقم م / 22 بتاريخ 3 / 4 / 1432 · قرار مجلس الوزراء رقم 91 بتاريخ 2 / 4 / 1432
Each article shows the official Arabic text, which is the only legally binding version, followed by our plain-English explanation.
Browse GCC Nationals Real Estate Ownership Statute by topic
Articles of the Saudi GCC Nationals Real Estate Ownership Statute
- Article 1The article allows GCC nationals and their wholly owned companies to rent and own built property and land for residence or investment in any member state, and treats them like that state's own nationals.
- Article 2The article requires a GCC owner of land to build on it or use it within 4 years of registration, failing which the state may dispose of it and compensate him at the lower price.
- Article 3The article allows a GCC owner to dispose of built property at any time, but of land only after it is built on or used or 4 years have passed since registration, or earlier with permission.
- Article 4The article preserves the state's right to expropriate property for the public benefit with fair compensation and to prohibit ownership in certain areas, and excludes property in Makkah and Madinah.
- Article 5The article provides that the regulation does not affect any better rights for GCC nationals that were in force when it was approved or that the member states grant in future.
- Article 6The article provides that the regulation replaces the one approved at the 20th session, applies 3 months after the Supreme Council approves it and is reviewed after 3 years, and gives interpretation to the Financial and Economic Cooperation Committee.