Cabinet: Government is keen on addressing rising land prices and rents in Riyadh
JEDDAH — The Council of Ministers discussed on Tuesday measures to balance Riyadh's real estate sector and reaffirmed the government's commitment to addressing rising land prices and rents witnessed in the capital city of Riyadh in recent years. Crown Prince and Prime Minister Mohammed bin Salman chaired the Cabinet session in Jeddah.
In a statement to the Saudi Press Agency following the session, Minister of Media Salman Al-Dossary said that the Cabinet reviewed the Kingdom's comprehensive economic, cultural, and social development efforts, along with completed plans and programs aimed at advancing national progress and benefiting citizens.
The Council emphasized that the new Arabian oil and natural gas discoveries in the Eastern Province and the Empty Quarter represent a substantial boost to the Kingdom's economic standing, enhancing its capacity to meet long-term local and global energy demands. The Cabinet viewed the Kingdom's high rankings in international indicators as confirmation of the state's strong support for all sectors, driving them toward greater competitiveness and global leadership.
The Council lauded the awards and medals earned by government entities and Saudi students at the Geneva International Exhibition of Inventions 2025, which align with the Kingdom's aspirations for innovation and a prosperous future. The Cabinet also commended the second Human Capability Initiative Conference held in Riyadh, which featured over 100 launches, agreements, and memoranda of understanding aimed at fostering international cooperation and advancing the Vision 2030 goals on human capital development.
Al-Dossary said the Cabinet discussed talks and consultations with friendly countries on regional and international developments, prospects for cooperation, and ways to strengthen ties across various sectors.
Reviewing the latest regional and global political developments, the Cabinet reiterated the Kingdom's active role in supporting international security and stability, as well as its efforts to alleviate humanitarian suffering. The Cabinet welcomed the growing global support for the upcoming international conference on the peaceful resolution of the Palestinian cause and the implementation of the two-state solution, which will be co-chaired by Saudi Arabia and France. It also stressed the urgent need for a ceasefire in Gaza and the delivery of humanitarian aid.
The Cabinet approved the establishment of an operations room to receive and process financial fraud reports. It also endorsed mutual assistance agreements in criminal matters, as well as the extradition of wanted individuals, and the transfer of sentenced convicts between the governments of Saudi Arabia and Morocco.
The Council approved a memorandum of understanding (MoU) between the Saudi and Malaysian governments regarding the mutual short-stay visa exemption for holders of diplomatic and official or special passports, and another MoU in environmental conservation between the Saudi Ministry of Environment, Water and Agriculture and the Jordanian Ministry of Environment.
The Cabinet authorized the health minister or his deputy to discuss and sign a draft MoU with the Iranian Ministry of Health and Medical Education for cooperation in health fields, and education minister or his deputy to discuss and sign a draft MoU with the Ministry of Education of Korea concerning educational cooperation.
The minister of finance and chairman of the board of directors of the Zakat, Tax and Customs Authority or his deputy was authorized to sign a draft agreement between the governments of Saudi Arabia and Bahrain to avoid double taxation with respect to income taxes and to prevent tax evasion and avoidance.
The Cabinet approved two agreements between the governments of Saudi Arabia and Kuwait and Croatia to avoid double taxation with respect to taxes on income and capital and to prevent tax evasion and avoidance.
It approved a MoU in communications and information technology between the Saudi Communications, Space and Technology Commission and the Hellenic Telecommunications and Post Commission, and endorsed Saudi Arabia's accession to the Tampere Convention on the Provision of Telecommunications Resources for Disaster Mitigation and Relief Operations (1998).
The Cabinet authorized the minister of human resources and social development and chairman of the board of directors of the Authority for the Care of People with Disabilities or his deputy to discuss and sign with the Djiboutian side a draft MoU for cooperation between the authority and the National Agency for Persons with Disabilities of Djibouti.
The Council approved a MoU for cooperation in trade promotion and support between the Saudi Export Development Authority and the Chinese Ministry of Commerce's Foreign Trade Development Bureau, and another cooperation agreement to combat terrorism and it's financing between the Saudi Presidency of State Security and the Kenyan National Intelligence Service.
The Cabinet approved a MoU for cooperation and news exchange between the Saudi Press Agency and the Algeria Press Service, and the licensing of Bank Syariah Indonesia to open a branch in Saudi Arabia.
The Council approved that the state will continue bearing entry visa fees for seasonal workers for the Hady and Adahi project for the 2025 Hajj season.
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