MULKIYA · GUIDES
NEOM: What a Foreign Buyer Can Actually Purchase
NEOM is a giga project in Saudi Arabia's northwest. Foreign buyers may own inside it under the designated-zone rules, confirmed parcel by parcel on the official register.
What NEOM is, and where it sits
NEOM is a giga project in the Tabuk region of northwestern Saudi Arabia, on the Red Sea coast and the Gulf of Aqaba. It is a region-scale development, not a single building or district. The project's own published materials describe named components: The Line, a linear city; Oxagon, an industrial and port city; Trojena, a mountain destination; and Sindalah, an island resort. Delivery is phased, and the components stand at different stages of construction. This article describes what a foreign buyer may own inside it under the law. It does not price the project, and no figure here comes from its marketing.
What is actually purchasable there
NEOM is listed among the designated destinations outside the four cities: Riyadh, Jeddah, Makkah and Madinah. The parcel-level zone records published for those four cities do not evaluate NEOM. So the honest statement is this: foreign ownership inside NEOM follows the designated-zone rules of Royal Decree M/14 and Council of Ministers Decision 43 of 23-06-2026, which endorsed the designated zones document, more than 100 zones across the Kingdom. The buyer confirms the specific parcel on the official register, REGA's Saudi Properties portal, before signing. A brochure is not proof of zone status. A sales office is not the register.
Who may own, and on what terms
Inside a designated zone, a non-resident foreign individual may own once three prerequisites are in place: a digital identity approved by the Ministry of Interior, obtained through Saudi embassies abroad; a Saudi bank account in the buyer's name; and a Saudi mobile number in the buyer's name, linked to that identity. Registration in the official real-estate registry is a validity condition of the purchase, not a formality after it. Plan cash-first: bank lending is structurally closed to non-residents today, and a developer payment plan is a schedule of payments, not credit.
Much of the offer is off-plan
What a foreigner can buy in NEOM today is largely off-plan: a contract on a unit that does not yet exist, paid against construction milestones. That concentrates risk in delivery rather than in the market. Two protections come with a licensed off-plan sale: the developer must hold a government licence for the specific project, and buyer installments sit in an escrow account for that project. Verify both through official channels before any payment. Dates and completion promises in sales material are the developer's statements, not verified data.
What it costs, and one real advantage
The national cost stack applies in NEOM as elsewhere. At purchase, the real-estate transaction tax is 5% of the price, legally the seller's liability and commonly priced into the deal. Brokerage is capped at 2.5% plus VAT on the commission, payable only if a broker is engaged. On exit, the seller pays the 5% tax again. The 2% disposal fee for non-Saudi sellers applies only in Riyadh, Jeddah, Makkah and Madinah. NEOM sits in the Tabuk region, outside the four cities, so the fee there is 0% under the current rules.
The market context, honestly
No licensed yield series covers NEOM yet, and no official price index reads it separately. The 7-9% gross yield band and the -3.6% residential price reading for Q1 2026 describe the established cities, not a region still under construction. Do not import them into a NEOM underwriting. The wider market is cooling, which argues for patience and verification over speed. Mulkiya is not the seller and not the broker, and it takes no commission. The honest first step is the eligibility check: seven questions about your status and your target property, answered by a deterministic rules engine against the law.
Can a foreigner buy property in NEOM?
Yes, under the designated-zone rules. NEOM is listed among the designated destinations outside the four cities. A non-resident foreign individual needs a digital identity approved by the Ministry of Interior, a Saudi bank account and a Saudi mobile number, and the purchase must be registered in the official real-estate registry to be valid.
How do I confirm a specific plot in NEOM is open to foreign buyers?
On the official register, REGA's Saudi Properties portal, which confirms zone status parcel by parcel. Zone names in circulation are press-derived and boundaries can cut through a single development, so verify the exact parcel before paying a deposit.
Does the 2% disposal fee apply when I sell in NEOM?
No, under the current rules. The fee applies only in Riyadh, Jeddah, Makkah and Madinah. NEOM is in the Tabuk region, so the non-Saudi disposal fee there is 0%. The 5% transaction tax on the sale still applies.
Can I finance a NEOM purchase with a Saudi mortgage?
Not as a non-resident today. Saudi bank lending is structurally closed to non-residents; no identity field exists for them in the lending system. A developer's payment plan is a schedule of payments, not credit. Plan cash-first.
Are there published yields or prices for NEOM?
No licensed yield data or official price index covers NEOM separately. The 7-9% gross yield band and the -3.6% Q1 2026 residential index reading describe the established cities. Treat projected returns in sales material as the seller's claims, not data.