Saudi Arabia allows foreigners to invest in firms with property in Mecca, Medina
Saudi Arabia's market regulator said on Monday it would allow foreign investment in listed companies that own real estate within Islam's two holiest sites of Mecca and Medina, as the Gulf country looks to attract more investment.
Foreigners can now invest in Mecca and Medina's real estate
In a major policy shift, Saudi Arabia has allowed foreign investors to invest in publicly-traded companies owning real estate in the holy cities of Mecca and Medina. Under the new policy, foreigners can purchase shares and convertible debt instruments in companies listed on the Saudi stock exchange.
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