CMA set to issue regulations for non-Saudi investment in Makkah, Madinah in Q1: El-Kuwaiz

24/01/2024 Argaam
Mohammed El-Kuwaiz, Chairman

Mohammed El-Kuwaiz, Chairman of Capital Market Authority (CMA)

The Capital Market Authority (CMA) intends to issue regulations for non-Saudi investment in listed companies that have business in Makkah and Madinah before the end of the current quarter, said CMA Chairman Mohammed El-Kuwaiz.

 

The move is part of the market regulator's efforts to offer more financing to the real estate sector and to turn ambition into reality, El-Kuwaiz told the Real Estate Future Forum.

 

In November 2023, the CMA invited public feedback on the draft regulations for excluding Tadawul-listed companies from ownership and investment in properties by non-Saudis, according to data available with Argaam.

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