
This week, the Saudi Authorities announced effective immediately, holders of a resident permit in Saudi Arabia must now ensure their resident permit has at least 30 days of validity before applying for an exit visa. Previously, foreign nationals could apply for an exit visa up until the last day of their permit. However, with this new regulation, anyone with less than 30 days of validity on their resident permit will need to renew their permit before proceeding with an exit visa application.
In other news, Saudi Arabia’s market regulator, the Capital Market Authority, stated it would allow foreign investment in listed companies that own real estate within Islam’s two holiest sites of Mecca and Medina, as the Kingdom looks to attract more investment. The move aims to attract foreign capital and provide liquidity for present and future projects in the two cities.
Economy, Budgets and Finance
Arab News: Saudi Arabia launches February ‘Sah’ savings programme with 4.94% return. Read Here
Arab News: KSA stock market among top regional performers amid upward trend. Read Here
Al-Arabiya News: Saudi Arabia allows foreigners to invest in firms with property in Mecca & Medina. Read Here
ZAYWA: Saudi-GCC non-oil commodity exports soar to $2.5 billion at the end of 2024. Read Here
Government & Royal Family
Al-Arabiya News: MBS meets Bill Clinton, former US president, in Riyadh. Read Here
The Arabian Mirror: Launch of a unified database of official Government regulations regarding the Arabic language. Read Here
Defence & Security
Saudi Press Agency: INTERPOL to establish MENA regional office in Saudi Arabia. Read Here
Commercial
Arab News: Key leaders at the Real Estate Future Forum predict suburban boom due to smarter housing designs in Saudi Arabia. Read Here
Arab News: International mortgage firms set to transform Saudi Arabia’s real estate sector. Read Here
Arab News: Road improvements worth 8 billion SAR announced for Riyadh. Read Here
Arab News: Green Horizons: Saudi Arabia’s sustainable tourism drive planting seeds for economic growth. Read Here
Social
Middle East Economy: Updates to Iqama holders exit visa requirements. Read Here
Arab News: Saudi Arabia signs first framework agreement with International Labor Organisation. Read Here
Sky Sports: Jhon Duran completes 295 million SAR transfer from Aston Villa to Saudi Pro League side Al-Nassr. Read Here
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