Provisions - III
A Saudi company listed in the Saudi Stock Exchange (Tadawul) may acquire the right of ownership, easement, or usufruct over a property located within the borders of the cities of Makkah and Madinah for a purpose other than the purpose described in Clause (II) of these Controls if the following conditions are met: -
- The ownership of a foreign strategic investor(s) acting jointly by agreement shall not exceed (30%) of the listed company's shares or the company's convertible debt instruments.
- The ownership of natural and legal persons who do not hold Saudi nationality shall not exceed (49%) of the listed company's shares or the company's convertible debt instruments.