Saudi Cabinet Approves Housing Investment Framework, Extends Real Estate Deadline
Jeddah, The Gulf Observer: Saudi Arabia’s Council of Ministers has approved a new framework allowing private investors to develop planned land and construct housing units for beneficiaries of developmental housing programs in exchange for ownership of a percentage of the land, as part of efforts to expand affordable housing and encourage private sector participation.
The decision was announced during the Cabinet session held in Jeddah on Tuesday under the chairmanship of Crown Prince and Prime Minister Mohammed bin Salman.
The Cabinet also approved a one-year extension of the deadline for correcting undocumented real estate transactions, providing additional time for property owners to regularize their holdings.
At the beginning of the meeting, the Crown Prince briefed ministers on his recent telephone conversation with Donald Trump, during which both leaders discussed regional developments and their broader implications. The Crown Prince reaffirmed Saudi Arabia’s commitment to dialogue as the primary means of reducing tensions and emphasized the importance of diplomatic efforts to promote regional peace, security, and stability.
The Cabinet was also informed of the Crown Prince’s telephone discussions with Hamad bin Isa Al Khalifa, Ahmed Al-Sharaa, Recep Tayyip Erdoğan, and Pedro Sánchez, which focused on strengthening bilateral cooperation and addressing issues of mutual interest.
Minister of Education and Acting Minister of Media Yousef Al-Benyan said the Cabinet welcomed increasing international support for the multinational maritime defense alliance launched by Saudi Arabia. The Council described the growing participation as recognition of the Kingdom’s leading role in enhancing regional and international security through coordinated efforts to protect global shipping lanes, trade routes, and energy supplies in the Red Sea, the Bab al-Mandab Strait, and the Gulf of Aden.
The Cabinet also expressed hope that the recently reached disarmament agreement in the Gaza Strip would serve as the foundation for a comprehensive political process leading to the implementation of a lasting peace plan, ensuring the Palestinian people’s right to self-determination and the establishment of an independent state. It commended the mediation efforts of Egypt, Qatar, Türkiye, the United States, and the Peace Board in facilitating the agreement.
Reaffirming Saudi Arabia’s humanitarian commitment, the Council confirmed that the Kingdom will host the fifth session of the Riyadh International Humanitarian Forum in April 2027. The forum has emerged as a major global platform for strengthening humanitarian cooperation, building sustainable partnerships, and improving the delivery of assistance to vulnerable communities worldwide.
The Cabinet reviewed the performance of several national programs, praising the achievements of the Doyof Al-Rahman Service Program for its continued efforts to improve services for pilgrims visiting the Two Holy Mosques. Ministers highlighted Saudi Arabia’s ongoing investment in enhancing the Hajj and Umrah experience by ensuring the highest standards of care and services from arrival to departure.
The Council also welcomed the International Monetary Fund‘s 2026 Article IV Consultation Report, which highlighted the resilience of the Saudi economy and credited its strong performance to sound economic fundamentals, fiscal discipline, financial stability, and structural reforms implemented under Saudi Vision 2030. The report noted that these reforms have accelerated economic diversification, strengthened institutions, improved healthcare and education outcomes, and enabled the Kingdom to achieve several strategic objectives ahead of schedule.
Among other decisions, the Cabinet approved a general cooperation agreement with Ecuador, an investment promotion and protection agreement with Kazakhstan, a civil aviation cooperation memorandum with Spain, and a maritime transport cooperation agreement with Somalia. It also authorized negotiations with South Korea’s KDI School of Public Policy and Management on technical and vocational training cooperation and approved a memorandum of understanding between the Saudi Space Agency and the Turkish Space Agency covering the peaceful uses of outer space.
Additionally, the Council approved amendments to the Government Tenders and Procurement Law, endorsed the bylaws of the International Center for Artificial Intelligence Research and Ethics, authorized the Ministry of Interior’s General Directorate of Medical Services to join the International Hospital Federation, and permitted regional offices of financial institutions licensed by the Ministry of Investment to conduct approved cross-border financial activities.
