Cabinet approves unified rules for joint property owners across GCC

The Custodian of the Two Holy Mosques King Salman bin Abdulaziz chairs the cabinet meeting

The Saudi Cabinet, chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, approved the Unified Rules for Owners of Jointly Owned Real Estate in the Gulf Cooperation Council (GCC) countries during its meeting held today, July 21, in Jeddah, according to the Saudi Press Agency (SPA).

The Cabinet also highlighted Saudi Arabia's advancement to 13th place globally among the largest economies in attracting foreign direct investment (FDI) in 2025, according to the United Nations Conference on Trade and Development (UNCTAD) report.

The Cabinet emphasized that this achievement reflects the Kingdom's growing position as a leading global investment destination, supported by a 53% increase in net FDI inflows to $32.6 billion, as well as enhanced competitiveness in key strategic sectors, including energy, infrastructure, technology, advanced industries, and logistics services.

The Cabinet reviewed a range of reports, statistics, and economic indicators related to the national economy, noting that reforms and government policies have had a positive impact on growth rates.

This includes the annual inflation rate remaining stable at 1.8% during the recent period, continuing to rank among the lowest compared with many advanced and emerging economies.

The Cabinet also reviewed the role of Saudi Arabia's ports in facilitating regional and international trade, alongside the launch and expansion of logistics centers at Jeddah Islamic Port.

These initiatives are expected to strengthen the integration of supply chains with multimodal transport networks and industrial and economic zones, while supporting the objectives of the National Transport and Logistics Strategy.