Yes, it is legally possible for non-Saudi individuals who are legally residing in the Kingdom to purchase real estate for their own private residence. However, this is not automatic — under Article 2 of the Law of Real Estate Ownership and Investment by Non-Saudis, you must first obtain permission from the Ministry of Interior before completing any such purchase.
This means you cannot simply walk into a real estate transaction the way a Saudi national can. You will need to apply for ministerial approval, and the process typically involves submitting proof of your legal residency (Iqama), identification documents, and details of the property you intend to purchase. Approval is granted on a case-by-case basis.
For private residential acquisitions that fall outside the standard cases covered by Article 2 — for example, unusual ownership arrangements — Article 4 provides that approval from the President of the Council of Ministers would be required, which is a significantly higher and less accessible threshold. Always consult a Saudi-licensed lawyer or a reputable real estate agent familiar with expat transactions before proceeding.
This is general legal information, not legal advice. For advice on your specific situation, consult a lawyer licensed in Saudi Arabia.