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The Saudi Cabinet on July 22 approved unified rules for owners of jointly owned properties in Gulf Cooperation Council countries, a move aimed at strengthening the regulatory framework for jointly owned properties across the region. The decision was taken during a Cabinet session in Jeddah chaired by King Salman bin Abdulaziz, Al-Eqtisadiah reported. The move signals continued coordination among GCC member states on harmonising property regulations as cross-border real estate ownership and investment across the region continue to grow.
What the Minister Said
In a post on X, Majid Al-Hogail, Minister of Municipalities and Housing, welcomed the Council of Ministers' approval of the unified rules for owners of jointly owned properties across the GCC. He said the regulations strengthen the integration of Gulf real estate legislation, improve governance of common areas, protect owners' rights, enhance asset management efficiency, and support a more sustainable and attractive investment environment. The emphasis on common-area governance suggests the rules are particularly aimed at addressing disputes that often arise in multi-owner developments such as apartment complexes and mixed-use towers.
- Decision: unified rules for jointly owned properties across GCC countries
- Approved by: Saudi Cabinet, chaired by King Salman bin Abdulaziz
- Location: Jeddah Cabinet session
- Announced by: Majid Al-Hogail, Minister of Municipalities and Housing
Other Cabinet Decisions
The Cabinet also approved transferring authority to issue import, export and re-export permits for chemical substances circulating in local markets, moving this responsibility from the Ministry of Commerce to the Ministry of Interior, the Supreme Authority for Industrial Security, the Ministry of Industry and Mineral Resources, and the Saudi Food and Drug Authority. It also endorsed a mechanism to integrate the roles of the Nuclear and Radiological Regulatory Commission and the National Cancer Center at the Saudi Health Council to meet nuclear and radiological oversight requirements.
Also Read: Saudi Arabia, Kuwait Drive GCC Islamic Banking Growth
Economic Performance Highlights
The Cabinet reviewed several economic reports, noting that the Kingdom's annual inflation rate remained stable at 1.8 percent, reflecting the impact of economic reforms and fiscal policies in supporting growth and macroeconomic stability. It also highlighted Saudi Arabia's rise to 13th place globally among the largest recipients of foreign direct investment in 2025, according to the UN Conference on Trade and Development, with net FDI inflows rising 53 percent to $32.6 billion, supported by the growing competitiveness of the energy, infrastructure, technology, advanced industries and logistics sectors. This jump in FDI inflows points to strengthening investor confidence across several of the Kingdom's key economic diversification sectors.
The Cabinet praised national efforts contributing to the Kingdom's participation in the 2026 High-Level Political Forum at the UN, welcoming progress outlined in the 3rd Voluntary National Review, particularly in water security, renewable energy, healthcare, digital government, industrial development and economic growth.
International Cooperation Agreements
The Cabinet authorized the Minister of Commerce to negotiate and sign a draft memorandum of understanding with China's State Administration for Market Regulation on cooperation addressing technical barriers to trade. It also approved an MoU between the General Directorate of Financial Investigations of the State Security Presidency and Ethiopia's Financial Intelligence Service to strengthen cooperation on exchanging information related to money laundering and terrorism financing, alongside an MoU between the Saudi Space Agency and the UN on the peaceful uses of outer space. Together, these agreements reflect the breadth of the Kingdom's ongoing bilateral and multilateral cooperation efforts across trade, security and space sectors.
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