🔁Mario Nawfal:
🚨🇸🇦SAUDI ARABIA OPENS MECCA, MEDINA TO FOREIGN INVESTORS—BUT WITH LIMITS
For the first time ever, foreign investors can now buy shares in Saudi-listed firms that own real estate in Mecca and Medina, the holiest cities in Islam.
-Foreign ownership is capped at 49%.
-Investments limited to shares, convertible debt, or both.
-Move aims to boost Saudi capital markets and attract global investors.
Mecca is undergoing massive expansion, with the Masar project adding 40,000 hotel rooms as Saudi Arabia pushes to hit 30M pilgrims by 2030.
Source: AFP
https://x.com/MarioNawfal/...
🚨🇸🇦SAUDI ARABIA OPENS MECCA, MEDINA TO FOREIGN INVESTORS—BUT WITH LIMITS
For the first time ever, foreign investors can now buy shares in Saudi-listed firms that own real estate in Mecca and Medina, the holiest cities in Islam.
-Foreign ownership is capped at 49%.
-Investments limited to shares, convertible debt, or both.
-Move aims to boost Saudi capital markets and attract global investors.
Mecca is undergoing massive expansion, with the Masar project adding 40,000 hotel rooms as Saudi Arabia pushes to hit 30M pilgrims by 2030.
Source: AFP
https://x.com/MarioNawfal/...
4 months ago
