The Saudi Premium Residency program approved 8,000 residents in 2024. Real estate agent Mohammed AlWahhabi said foreign residents seeking “stability and freedom” are driving the surge.

Saudi Arabia’s Premium Residency program has drawn 40,163 applications between January 2024 and July 2025, according to the Saudi Gazette.

This growth follows the program’s early 2024 overhaul, which introduced seven residency tracks aimed at attracting global talent and, for the first time in Saudi, opened residency pathways for foreign investors in real estate and other sectors.

The program now includes categories such as Exceptional Competence, Talent, Business Investor, Entrepreneur, and Real Estate Owner, replacing the original two-track system. This broader scope aims to enhance the program’s competitiveness.

“Exceptional Competence” Leads the Way

In 2024, Saudi Arabia issued 8,074 Premium Residency permits. The Exceptional Competence category accounted for the largest share with 5,578 permits. This category targets high-performing professionals and top executives, with minimum salary requirements ranging from an equivalent of US$4,000 for researchers to approximately US$21,000 for senior executives.

The government has not disclosed the number of permits it issued to investors in real estate or otherwise, nor the application figures between January and July 2025. It also didn’t reveal how many applications it rejected.

In February, the government announced it granted 685 permits under the exceptional talent track during 2024.

Saudi estate agent Mohammed AlWahhabi described the high application volume as “impressive but not surprising,” noting a clear rise in demand for Saudi real estate among foreign investors.

He added that while many investors come from abroad, a sizable number of foreign residents already living in Saudi Arabia are also applying to the program, “seeking stability, freedom from sponsorship, and better living conditions for their families.”

Under current laws, property ownership is limited to Saudi nationals and Premium Residency holders, positioning the program as a gateway for long-term residents to access the real estate market.

Saudi’s Foreign Residents: A Potentially Huge Market

Foreign residents make up more than 40% of Saudi Arabia’s population and account for over 75% of its workforce, representing a substantial market for the Premium Residency program.

Unlike restrictive work visas, which often mandate having a local sponsor, Premium Residency holders enjoy many privileges. These include freedom from expatriate levies, unrestricted entry and exit, and the ability to work, invest, and own property without requiring a sponsor.

AlWahhabi said that Saudi Arabia’s recent decision to open its property market to foreigners by 2026 has also fuelled interest in the Premium Residency program and the real estate market.

It remains unclear what conditions and thresholds foreigners must meet to qualify for local real estate purchases, but authorities plan to release the regulations later this year.

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