The Saudi Shura Council endorsed on Wednesday to demand the General Authority for Real Estate to examine allowing to own non-resident foreigners in Saudi Arabia according to specific controls.
According to Arab News, quoting the economic newspaper, the Council called for a clear governance of the entities established for the Saudi Real Estate Institute and the Saudi Real Estate Arbitration, Research Center and Studies. .
The Board stressed the Commission to promote the oversight role in all its actions in order to pursue commitment to the rules and standards developed by the real estate activities and work in coordination with the stakeholders to ensure real estate stability and reduce the risks to the real estate market.
