Saudi Arabia Opens Mecca's Real Estate Market to Global Investors

Saudi Arabia is set to open Mecca's real estate market to international investors as part of its strategy to diversify its economy beyond oil, aiming for a $100 billion annual boost. Bloomberg posted on X, highlighting this move as a significant step in the kingdom's broader economic diversification plan. The initiative is part of Saudi Arabia's Vision 2030, which seeks to reduce the country's dependence on oil revenue by expanding other sectors, including real estate, tourism, and entertainment. By attracting global investors to Mecca, the kingdom hopes to stimulate economic growth and create new opportunities in the region. This development aligns with Saudi Arabia's efforts to modernize its economy and attract foreign investment, positioning itself as a key player in the global market.