Madinah Project Sells 304 Units to Foreign Buyers

A residential development in Madinah, Meshraf Almajdiah, has sold all 304 units in its first phase for SAR 231,466,000, with every unit purchased by non-Saudi investors. The sell-out marks one of the early large-scale transactions to unfold under Saudi Arabia's updated non-Saudi real-estate ownership framework.

The first-phase figures put the average unit price at roughly SAR 761,401. The full uptake by foreign investors comes shortly after the Kingdom's revised ownership law took effect in January 2026, opening defined categories of property to non-Saudis within approved areas.

How the new framework works

Under the updated rules, non-Saudis may own or acquire real-property rights only within areas and categories approved under the applicable Council of Ministers decisions and regulations. Ownership or other in-rem rights become legally effective only after registration in the National Real Estate Registry.

Buyers in the designated metropolitan areas of Madinah, Riyadh, Jeddah, and Makkah are subject to an additional non-Saudi disposal fee of 2% of the transaction value, separate from the general Real Estate Transaction Tax of 5%. In Madinah, this can bring the combined transfer cost to 7% before any exemptions or other charges. The additional non-Saudi fee is capped by law at 5%, though the current rate in these areas remains 2%.

Non-Saudi ownership applications are processed through the General Real Estate Authority's Non-Saudi Real Estate Ownership platform. After valid registration, no general time-limited ownership period applies; ownership continues subject to the title, applicable law, and later disposal rules.

For expat residents and international investors, the transaction signals growing opportunities to own property in the Kingdom. Prospective buyers should note that exact project-specific booking fees, installment schedules, registration charges, permitted ownership-zone details, and any tax exemptions for Meshraf Almajdiah are not yet publicly confirmed, and should verify these directly before committing.

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