Saudi Arabia keen to strengthen partnerships with Hong Kong, China

Speaking at the “One Gateway Shared Vision — Hong Kong x Saudi Arabia” event in the city, Abdullah Al-Swaha said closer collaboration would help boost the Kingdom’s Vision 2030 reform agenda. (Ministry of Communications and Information Technology). (Supplied)
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Updated 03 July 2023
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Saudi Arabia keen to strengthen partnerships with Hong Kong, China

  • Sides have opportunity to ‘build an innovation bridge,’ communications minister says
  • Abdullah Al-Swaha is leading delegation on official visit to China

LONDON: Saudi Arabia is keen to strengthen its cooperation with Hong Kong and ultimately mainland China, the Kingdom’s minister of communications and IT said on Sunday.

Speaking at the “One Gateway Shared Vision — Hong Kong x Saudi Arabia” event in the city, Abdullah Al-Swaha said closer collaboration would help boost the Kingdom’s Vision 2030 reform agenda, the South China Morning Post reported.

Saudi authorities would look to work closely with Hong Kong across a range of sectors, including health sciences and biotechnology, environmental, cloud computing, artificial intelligence and smart cities, he said.

“Hong Kong and Saudi Arabia are going through very promising transformations, where both economies are financial hubs in their own regions. We have an opportunity to build an innovation bridge, to leapfrog into the future with an innovation-based economy.”

Al-Swaha is on an official visit to China accompanied by a high-level delegation representing entities affiliated with the digital economy, space and innovation systems.

A “pro-partnership and pro-openness” Saudi Arabia was willing to do business with “any partner that can comply with our security and regulatory requirements,” he said.

He also praised the transformation of the ICT sector in Hong Kong and in mainland China as “world class” and a “success story” the Kingdom wanted to “replicate and explore partnerships with.”

Al-Swaha’s trip follows the Arab-China Business Conference held in Riyadh last month at which Saudi Investment Minister Khalid Al-Falih said the Kingdom could serve as China’s gateway to the Arab world.


Saudi Arabia opens real estate market to foreign buyers

Updated 22 January 2026
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Saudi Arabia opens real estate market to foreign buyers

RIYADH: Saudi Arabia’s Real Estate General Authority has announced that the regulatory system governing property ownership by foreigners officially came into effect on Jan. 22, with all provisions now enforceable under the national real estate framework.

The authority said applications for property ownership by non-Saudis can be submitted through the official digital platform, Saudi Arabia Real Estate. The system applies to residents and non-residents, as well as foreign companies and entities, in accordance with established legal procedures.

According to the authority, the application process varies by ownership category. Foreign residents in Saudi Arabia may apply directly through the portal using their residence permit, with legal requirements verified automatically and the process completed electronically.

Non-residents are required to initiate their applications through Saudi embassies and consulates abroad to obtain a digital identification number, which enables them to finalize the process via the platform.

Foreign companies and entities without a presence in the Kingdom must first register with the Ministry of Investment through the “Invest Saudi” platform and obtain a unified registration number (700) before completing ownership procedures electronically.

The authority confirmed that the system allows foreign individuals, companies, and entities to own property across Saudi Arabia, with ownership permitted in major cities including Riyadh and Jeddah.

However, property ownership in Makkah and Madinah remains restricted to Saudi companies and Muslim individuals, in line with a regulatory framework based on the Geographic Zones document, which is scheduled to be announced in the first quarter of 2026.

The authority noted that the Saudi Arabia Real Estate portal serves as the official digital gateway for all ownership procedures, ensuring regulatory compliance and direct integration with the national real estate registry to enhance transparency and protect property rights.

It added that the new system is expected to improve the quality of real estate projects by attracting international developers and specialized firms, stimulating growth in the residential, commercial, industrial, and tourism sectors, and creating employment opportunities for Saudi citizens.

The initiative is also expected to strengthen the real estate sector’s sustainable contribution to the Kingdom’s non-oil gross domestic product.