Cityscape Global closes with record-breaking $63b deals

RIYADH: Cityscape Global 2025 concluded by revealing a staggering SAR 237 billion ($63b) in real estate transactions across the four-day show, along with landmark reforms allowing foreigners to own real estate in the Kingdom, achievements that will reverberate throughout the global real estate sector.

- Staff Reporter, Gulf Today

Sponsored by the Ministry of Municipalities and Housing, in partnership with REGA, Vision 2030 and Housing Program, and organised by Tahaluf, Cityscape Global brought together international real estate leaders to discuss investments, planning, and innovation over four packed days.

In an onsite interview with Bloomberg, it was confirmed that Saudi Arabia is progressing with reforms that will allow foreigners to own real estate, including in the holy cities of Mecca and Medina, from January 2026.

Non-Saudis will be able to buy residential, commercial, agricultural and industrial properties in addition to acquiring land to develop, according to an official at the Real Estate General Authority.

Designated zones for foreign ownership in Riyadh, Jeddah, and the holy cities of Mecca and Madinah are still under review and will be published “very soon” along with regulations for the new real estate ownership rules, said Fahad BinSulaiman, executive director for non-Saudi real estate ownership at the regulator.