Saudi Accepts Visitor ID Freezes Riyadh Rent
Saudi Arabia Recognizes Visitor ID for Banking, Freezes Rent Hikes in Riyadh
Riyadh – Saudi Arabia has officially recognized the Visitor ID as a valid identification document, a move aimed at making services more accessible to expatriates and visitors.
According to the directive, all banks and financial institutions across the Kingdom must now accept the Visitor ID for opening accounts. Verification will be carried out through approved platforms to ensure authenticity and security. The step is seen as part of broader efforts to improve customer service and streamline procedures in the banking sector.
Freeze on Rent Hikes in Riyadh
In a parallel development, Saudi Arabia has also frozen rent increases for residential and commercial properties in Riyadh for the next five years. The landmark decision, effective from September 25, 2025, follows directives from Crown Prince Mohammed bin Salman and is designed to regulate landlord-tenant relations while easing pressure on the capital’s rising rental market.
The Real Estate General Authority has been tasked with implementing and monitoring the new measures in coordination with relevant government bodies. Authorities will monitor market activity and rental prices to ensure compliance, with the option to introduce further regulations if necessary.
Crown Prince Mohammed bin Salman has also ordered regular reporting on market trends, including price indices, to guide potential adjustments and maintain balance in the real estate sector.
Officials noted that the regulations are intended to safeguard the rights of all parties while fostering a stable, transparent, and fair housing market in Riyadh.
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