Saudi approves foreign property ownership
The Saudi Council of Ministers approved the executive regulations for the Non-Saudis Property Ownership System, including specifying the areas where ownership is permitted. Additionally, it approved the design and construction of the first jointly Saudi-Egyptian satellite. The council also endorsed cooperation with Germany in the energy sector and memoranda of understanding in housing, energy, education, and transportation, aimed atEnhancing economic and developmental growth in the Kingdom. Moreover, the council discussed Saudi Arabia's advancements in international rankings, notably being ranked 13th worldwide and third among G20 countries in the 2026 Competitiveness Report. It also highlighted the Kingdom's continued excellence in cybersecurity indicators, progress in healthcare programs, national industry, and logistics services.
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