During Tuesday’s cabinet session held in NEOM and chaired by King Salman, Saudi Arabia approved a system for selling and leasing real estate projects off-plan. This system is aimed at facilitating real estate transactions in the country.
The cabinet also discussed Saudi Arabia’s efforts to provide assistance to those affected by recent flooding in Libya, including the distribution of food packages and the construction of shelters for those in need.
Members of the cabinet commended Saudi Arabia’s positive credit rating from global financial institutions and its ongoing economic diversification program. Recently, Standard & Poor’s rated the Kingdom with an A/A-1 rating and a stable outlook.
Furthermore, they reviewed the outcomes of the G77 + China summit, which took place in Cuba over the weekend. Saudi Foreign Minister Prince Faisal bin Farhan represented King Salman at the summit.
The cabinet also expressed support for the establishment of a council of Arab cybersecurity ministers under the governance of the Arab League. This council will have a general secretariat and an executive office based in Riyadh, marking an important step in enhancing cybersecurity cooperation among Arab nations.
