The Saudi Capital Market Authority said that as per the decision, foreign investment in these companies would be limited to shares of these Saudi companies listed on the capital market, as well as to convertible debt instruments, or both. The Saudi Capital Market Authority (CMA) has announced that foreigners are allowed to invest in listed Saudi companies that own real estate in the cities of Makkah and Madinah, effective from Monday, Jan. 27. The Saudi capital market regulator said in a statement that this move aims to stimulate investment, enhance the attractiveness and efficiency of the capital market, and strengthen its regional and international competitiveness while supporting the local economy. “This includes attracting foreign capital and providing the necessary liquidity for current and future projects in Makkah and Madinah through the investment products available in the Saudi market, positioning it as a key funding source for these distinctive developmental projects,” the statement pointed out. The CMA decision follows the approval of the controls for the exclusion of companies listed in the Saudi Stock Exchange (Tadawul) from the meaning of the phrase (Non-Saudi) in accordance with the Law of Real Estate Ownership and Investment by Non-Saudis The CMA said that as per the […]