Saudi Arabia’s market watchdog, the Capital Market Authority (CMA), said in a statement the move aimed to attract foreign capital and provide liquidity for present and future projects in the two cities.

Saudi Arabia will allow foreign companies to invest in Saudi companies that own properties in Mecca and Medina, possibly forshadowing a lift on its ban on foreigners in the holy cities

Saudi Arabia is set to begin allowing non-Saudis to invest in publicly-traded companies that own real estate in Mecca and Medina. According to a statement from the Capital Market Authority, from Monday,

Saudi Arabia on Monday said foreigners are from now on allowed to invest in Saudi-listed companies that own property in Mecca and Medina, Islam's two holiest cities.It said foreign investment "in companies owning real estate within the boundaries of Mecca and Madinah will be limited to shares of these Saudi companies listed on the Saudi capital market,

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.