Latest news with #CouncilofMinisters'
Korea Herald
11-07-2025
- Business
- Korea Herald
Al-Hogail Thanks the Leadership for the Council of Ministers' Approval of the Updated Regulation for Non-Saudis' Ownership of Real Estate
RIYADH, Saudi Arabia, July 10, 2025 /PRNewswire/ -- His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipalities and Housing, and Chairman of the Real Estate General Authority (REGA), extended his sincere gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness the Crown Prince on the Council of Ministers' approval of the updated regulation on non-Saudis' ownership of real estate, during its session held on Tuesday, 8/07/2025. His Excellency explained that the Council of Ministers' approval of the updated regulation at this time is a continuation of the real estate legislative reforms aimed at developing the sector and promoting foreign direct investment. This will contribute to increasing the supply of real estate by attracting investors and real estate development companies to the Saudi market, thereby supporting efforts to achieve a more balanced real estate ecosystem. He added that the regulation carefully considers all economic and investment aspects, and allows real estate ownership under specific ownership conditions in Makkah and Madinah. He noted that the updated regulation permits both individuals and legal entities—including residents with legal status in the Kingdom as well as non-residents—to own real estate within Saudi Arabia, in accordance with specific regulations and conditions. According to the updated regulation, REGA is entrusted with proposing the geographical areas in which non-Saudis may own real estate or acquire other real rights. REGA will publish the executive regulations of the updated system on the Public Consultation Platform (Istitlaa) within 180 days from the date of its publication in the Official Gazette. The regulation is scheduled to come into effect in January 2026, as stipulated. The executive regulations will outline the procedures for non-Saudis to acquire real estate rights, the requirements for enforcing the regulation's provisions on non-Saudis, and all relevant implementation details, taking into account economic and social dimensions. It is also worth noting that the updated regulation aligns with the provisions of the Premium Residency Law, the regulations governing real estate ownership by citizens of the Gulf Cooperation Council (GCC) member states for the purposes of residence and investment, and other applicable laws that grant non-Saudis privileges to own real estate and acquire other related rights.
Malaysian Reserve
10-07-2025
- Business
- Malaysian Reserve
Al-Hogail Thanks the Leadership for the Council of Ministers' Approval of the Updated Regulation for Non-Saudis' Ownership of Real Estate
RIYADH, Saudi Arabia, July 10, 2025 /PRNewswire/ — His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipalities and Housing, and Chairman of the Real Estate General Authority (REGA), extended his sincere gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness the Crown Prince on the Council of Ministers' approval of the updated regulation on non-Saudis' ownership of real estate, during its session held on Tuesday, 8/07/2025. His Excellency explained that the Council of Ministers' approval of the updated regulation at this time is a continuation of the real estate legislative reforms aimed at developing the sector and promoting foreign direct investment. This will contribute to increasing the supply of real estate by attracting investors and real estate development companies to the Saudi market, thereby supporting efforts to achieve a more balanced real estate ecosystem. He added that the regulation carefully considers all economic and investment aspects, and allows real estate ownership under specific ownership conditions in Makkah and Madinah. He noted that the updated regulation permits both individuals and legal entities—including residents with legal status in the Kingdom as well as non-residents—to own real estate within Saudi Arabia, in accordance with specific regulations and conditions. According to the updated regulation, REGA is entrusted with proposing the geographical areas in which non-Saudis may own real estate or acquire other real rights. REGA will publish the executive regulations of the updated system on the Public Consultation Platform (Istitlaa) within 180 days from the date of its publication in the Official Gazette. The regulation is scheduled to come into effect in January 2026, as stipulated. The executive regulations will outline the procedures for non-Saudis to acquire real estate rights, the requirements for enforcing the regulation's provisions on non-Saudis, and all relevant implementation details, taking into account economic and social dimensions. It is also worth noting that the updated regulation aligns with the provisions of the Premium Residency Law, the regulations governing real estate ownership by citizens of the Gulf Cooperation Council (GCC) member states for the purposes of residence and investment, and other applicable laws that grant non-Saudis privileges to own real estate and acquire other related rights. Logo – View original content:
Cision Canada
10-07-2025
- Business
- Cision Canada
Al-Hogail Thanks the Leadership for the Council of Ministers' Approval of the Updated Regulation for Non-Saudis' Ownership of Real Estate
RIYADH, Saudi Arabia, July 10, 2025 /CNW/ -- His Excellency Mr. Majed bin Abdullah Al-Hogail, Minister of Municipalities and Housing, and Chairman of the Real Estate General Authority (REGA), extended his sincere gratitude to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to His Royal Highness the Crown Prince on the Council of Ministers' approval of the updated regulation on non-Saudis' ownership of real estate, during its session held on Tuesday, 8/07/2025. His Excellency explained that the Council of Ministers' approval of the updated regulation at this time is a continuation of the real estate legislative reforms aimed at developing the sector and promoting foreign direct investment. This will contribute to increasing the supply of real estate by attracting investors and real estate development companies to the Saudi market, thereby supporting efforts to achieve a more balanced real estate ecosystem. He added that the regulation carefully considers all economic and investment aspects, and allows real estate ownership under specific ownership conditions in Makkah and Madinah. He noted that the updated regulation permits both individuals and legal entities—including residents with legal status in the Kingdom as well as non-residents—to own real estate within Saudi Arabia, in accordance with specific regulations and conditions. According to the updated regulation, REGA is entrusted with proposing the geographical areas in which non-Saudis may own real estate or acquire other real rights. REGA will publish the executive regulations of the updated system on the Public Consultation Platform (Istitlaa) within 180 days from the date of its publication in the Official Gazette. The regulation is scheduled to come into effect in January 2026, as stipulated. The executive regulations will outline the procedures for non-Saudis to acquire real estate rights, the requirements for enforcing the regulation's provisions on non-Saudis, and all relevant implementation details, taking into account economic and social dimensions. It is also worth noting that the updated regulation aligns with the provisions of the Premium Residency Law, the regulations governing real estate ownership by citizens of the Gulf Cooperation Council (GCC) member states for the purposes of residence and investment, and other applicable laws that grant non-Saudis privileges to own real estate and acquire other related rights.
Jordan News
20-05-2025
- Science
- Jordan News
Abu Danneh Assumes Role as Director General of the Department of Antiquities - Jordan News
His Excellency Prof. Dr. Fawzi Qassem Abu Danneh officially began his duties as Director General of the Department of Antiquities on Sunday, May 18, 2025. This appointment follows the Royal Decree endorsing the Council of Ministers' decision to assign him to the post, after he earned the highest score in the competitive selection process conducted under the Government Leadership System. اضافة اعلان Dr. Abu Danneh holds a PhD in Classical Archaeology from Newcastle University in the United Kingdom, which he obtained in 2006. He brings with him extensive academic and research experience, in addition to practical fieldwork in the archaeology sector. His professional skills have been further enhanced through participation in numerous specialized training courses. In the academic field, Dr. Abu Danneh has made significant contributions, having published nearly 50 peer-reviewed research papers in prestigious local and international journals. He has also actively participated in both international and local scientific conferences with specialized academic research. In recognition of his academic standing, Dr. Abu Danneh has served on several boards and councils, most notably the Board of Trustees of Al-Isra University, and the Editorial Board of the Jordanian Journal of History and Archaeology issued by the University of Jordan. He has also appeared in several international documentaries on the history of antiquities in Jordan, including productions by the BBC. Dr. Abu Danneh has been a member of numerous thesis and dissertation defense committees in Jordanian universities and has represented the Kingdom in various local and international conferences, seminars, and workshops. He played an active role in securing the Al Hassan Award for Scientific Excellence during his tenure as Dean of the Petra College for Tourism and Archaeology.
Jordan News
19-05-2025
- Business
- Jordan News
Dudin: Government Incentive Package Boosts Real Estate Investment and Supports Economic Activities in Aqaba
Dudin: Government Incentive Package Boosts Real Estate Investment and Supports Economic Activities in Aqaba Eng. Sahel Dudin, CEO of Ayla Oasis Development Company—one of the largest real estate projects in the region—affirmed that the decisions made by the Council of Ministers on Sunday, which include new benefits and incentives for the real estate sector in Aqaba, will positively impact various economic activities, particularly real estate. These incentives will also enhance confidence in Aqaba's investment environment by reinforcing the attractiveness and leadership of its market. اضافة اعلان Eng. Dudin explained that the new package of governmental incentives and benefits is aimed at transforming Aqaba into a world-class destination for tourism and investment. It seeks to strengthen Aqaba's position by facilitating and encouraging long-term residency for foreign investors and easing their investment journey. The initiative also aims to enhance the competitiveness of the Aqaba Special Economic Zone and establish an integrated, sustainable real estate ecosystem supported by attractive legislation. This, in turn, aligns with the Kingdom's comprehensive economic growth plans as outlined in the Economic Modernization Vision and the Integrated Urban Plan for Aqaba. He further highlighted that Ayla Oasis Development Company has laid out a comprehensive, long-term vision to build a sustainable destination that showcases Aqaba's environmental, social, and economic advantages. Today, Ayla stands as a leading project contributing to Aqaba's investment vision by attracting both local and international capital. It also strengthens the appeal of the real estate market and cements Aqaba's position as a global investment destination, thanks to its advanced infrastructure and flexible regulatory framework. Dudin added that these government decisions are geared toward supporting growth rates, as Aqaba plays a key role in stimulating the economy across high value-added sectors such as tourism, real estate, and logistics, among others. These incentives for the real estate sector coincide with the third edition of the Ayla Marina Boat Show, held this month. The exhibition showcases the latest developments in the marine services sector to enthusiasts and yacht lovers from Jordan and abroad. It features exceptional events aimed at introducing all aspects of marine services through experts and professionals in the field—supporting the growth of this promising sector. The boat show, taking place in parallel with the Council of Ministers' economic stimulus decisions, helps drive direct buying and selling activity, attract investments, and foster entrepreneurial projects in the sector. It also indirectly promotes awareness of the Ayla Oasis project and its full range of real estate facilities, advantages, and services. Dudin concluded by stressing that the Council of Ministers' real estate stimulus package represents a valuable opportunity for investors, retirees, and professionals from Jordan and abroad to learn more about the government's support for the real estate sector and to explore Aqaba and its growing portfolio of projects. These decisions serve as a powerful engine for sustainable growth across dozens of interconnected sectors.
