Saudi Cabinet Greenlights Property Ownership Law for Foreigners
Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman convened Tuesday's Cabinet meeting in Saudi Arabia, which approved a new law that governs non-Saudi property (real estate) ownership. Most Viewed: Saudi Central Bank launches new digital payments platform to boost e-commerce
Crown Prince Mohammed bin Salim briefed the Cabinet on his recent phone conversation with German Chancellor Friedrich Merz and his meetings with Indonesian President Prabowo Subianto at the start of the weekly session in Jeddah.
Several agreements and memoranda of understanding were signed between private sector firms in both countries, demonstrating the strength of bilateral connections, and the first meeting of the Saudi-Indonesian Supreme Coordination Council was commended by the Cabinet. These accords cover clean energy, petrochemicals, aviation fuel services, and other areas that share a goal of enhanced economic cooperation.
The Cabinet also assessed Saudi Arabia's contributions to global economic growth, confirming the Kingdom's commitment to multilateral cooperation and market stability, according to Acting Minister of Media Dr. Essam bin Saeed, who spoke to the Saudi Press Agency (SPA). To maintain a stable petroleum market, this involves maintaining communication and cooperation with oil producers within the OPEC+ coalition.
November will see the 21st United Nations Industrial Development Organization (UNIDO) General Conference held in Riyadh, and the Cabinet was pleased to hear the news. The conference aims to collectively address issues such as sustainable manufacturing, innovation, and technological transformation. Recommend: Saudi Arabia ranks top in the list of cybersecurity in the world
The United Nations Human Rights Council unanimously adopted a Saudi-led resolution to safeguard children online, which pleased the Cabinet. The program is a reflection of the kingdom's dedication to creating a safer and more inclusive cyberspace for younger generations and is an outgrowth of the Crown Prince's global "Child Online Safety" campaign.
According to the World Competitiveness Yearbook's 2025 edition, Saudi Arabia has maintained its top status in global cybersecurity, which the Cabinet also celebrated. The kingdom has made major contributions to the technology sector, including the localization of important technologies and the enhancement of international partnerships, and this success adds to that record.
The smart digital infrastructure, increasing investment climate, and digital economy now valued at SR495 billion in the Kingdom were highlighted by Dr. Essam as reasons for its first-place ranking in the 2025 International Telecommunication Union’s ICT Development Index.
Recent successes in the war on drugs have been lauded by cabinet members. These include large-scale operations that have targeted criminal organizations that traffic in illicit substances, as well as ongoing initiatives to protect the public's health and safety.
The assembly also approved the General Authority for Irrigation's organizational structure, the National Transport and Logistics Strategy, and the acceptance of World Drowning Prevention Day by Saudi Arabia, to be celebrated annually on July 25. See Also: Saudi Arabia issues new guidelines for food trucks and bans late-night sales
Additionally, the Cabinet gave the Social Development Bank the green light to start a guarantee program that will provide the most financially disadvantaged people in the Kingdom access to loans from the bank and others.
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| Saudi Cabinet Greenlights Property Ownership Law for Foreigners |