The Saudi Capital Market Authority (CMA), an independent regulatory body, announced that non-Saudis or non-Muslims can now invest in shares of Saudi-listed companies with real estate holdings in the two holy cities. The move aims to boost investment, strengthen the local economy, and align with Saudi Arabia’s Vision 2030. While the rest of the world sees this as a pragmatic economic step, Pakistanis—who neither have the means nor the authority to dictate Saudi policies—have erupted in misplaced outrage.
#Announcement | To Stimulate Investment and Support the National Economy, the Capital Market Authority Announces:
Allowing Foreign Investment in Real Estate Listed Companies Operating in Makkah and Madinahhttps://t.co/urf8chippA pic.twitter.com/pP4kNkmfr9— Capital Market Authority (@SaudiCMA_En) January 27, 2025
Pakistan, currently on the verge of financial collapse, is in no position to offer economic or religious advice to Saudi Arabia. The country has been running on loans from the IMF, China, and even Riyadh itself, yet its citizens believe they have a say in how the Saudis manage their economy. Ironically, most Pakistanis who visit Makkah and Madinah as pilgrims often overstay their visas, turn to begging on the streets and force Saudi authorities to deport them. Riyadh has issued multiple warnings and deported thousands of illegal Pakistani migrants over the years, yet the same Pakistanis have the audacity to challenge Saudi investment policies.
Pakistanis Speaking Beyond Their Stature
The Pakistani outrage over foreign investment in the holy cities is nothing but empty rhetoric. While some business-minded individuals recognise the potential economic benefits, the country’s loudest voices—hardline religious groups and populist commentators—are fixated on a false sense of moral superiority. They claim that foreign investment violates the sanctity of Makkah and Madinah, but conveniently ignore the fact that Pakistan itself is desperate for foreign investments from China, the United States, and Gulf nations, including Saudi Arabia.
MUST WATCH – Pakistanis are now lecturing Saudi Prince pic.twitter.com/VTIj1eP3lx
— News Algebra (@NewsAlgebraIND) March 2, 2025
When questioned about this contradiction on live television, Pakistani religious commentators failed to offer a coherent response. A Pakistani anchor confronted them with a simple question: “If Pakistan welcomes foreign investments from non-Muslim countries, why should Saudi Arabia not do the same within its own legal framework?” The so-called scholars stumbled, exposing their ignorance and selective outrage.
Saudi Arabia Moves Forward, Pakistan Stays Behind
Saudi Arabia, the west asia’s largest economy, is advancing with a clear vision. The kingdom is investing in large-scale projects like Masar Development, which aims to add 40,000 new hotel rooms to Makkah and accommodate 30 million pilgrims by 2030. The annual Hajj and Umrah pilgrimages generated over $12 billion in 2019, and Riyadh is strategically expanding its economic opportunities while maintaining the sanctity of its religious sites.
Pakistan, meanwhile, is stuck in a cycle of economic failure, religious extremism, and misplaced arrogance. While Pakistanis struggle to afford basic necessities and rely on handouts from Gulf nations, they remain obsessed with interfering in Saudi affairs—talking far beyond their stature while their own country crumbles.
Saudi Arabia will move ahead with its economic vision, regardless of Pakistan’s empty protests. It’s time Pakistanis focus on fixing their own sinking economy, illegal migration, and global reputation before attempting to dictate terms to the very nation that has bailed them out multiple times.
