HOLY ACCESS
New Saudi rules allow foreigners to invest in Mecca and Madinah
Still, the Capital Market Authority said that foreign ownership cannot exceed 49% of the Saudi company’s listed shares
An aerial view shows the Abraj al-Bait also known as the Mecca Royal Hotel Clock Tower (Getty Images)
Add The Circuit on GoogleNew rules taking force on Monday now allow foreigners to invest in publicly traded companies owning real estate in the Islamic holy cities of Mecca and Madinah, another step in Saudi Arabia effort to attract overseas funds.
According...
