The Saudi Council of Ministers approves the property expropriation system to serve the public interest
The Saudi Cabinet, during its latest session, approved the system for expropriation of real estate properties for public benefit, among a package of regulatory decisions aimed at promoting urban development and supporting strategic projects across various regions of the Kingdom.
Details of the News
Chaired by King Salman bin Abdulaziz, the Saudi Cabinet approved during its meeting last Tuesday the system for the expropriation of real estate properties and temporary possession of real estate, as part of the modernization of real estate laws in Saudi Arabia and the enhancement of urban regulation to achieve national development. This decision is among a series of Saudi Cabinet decisions aimed at achieving public benefit, as the new system provides a clear mechanism for the expropriation of real estate for public benefit in accordance with specific controls.
The Cabinet also endorsed the updated strategy for the development of the Asir region, a step aimed at supporting economic growth and enhancing infrastructure in the region.
In terms of international cooperation, the Cabinet approved a memorandum of understanding between the Ministry of Industry and Mineral Resources in the Kingdom and its counterpart in Indonesia for cooperation in the field of mineral resources. Additionally, it authorized the Minister of Investment or his delegate to discuss with the Chinese side a draft memorandum of understanding with the government of the Hong Kong region for cooperation in exchanging information related to infrastructure and construction.
The Cabinet also ratified a memorandum of understanding between the Saudi Ministry of Health and the Ministry of Health and Family Welfare in India for cooperation in health fields, and approved a cooperation memorandum in the field of civil aviation between the Saudi General Authority of Civil Aviation and its counterpart in the State of Kuwait.
The Cabinet assigned the President of the General Court of Audit—or his delegate—the task of discussing with the Cypriot and Gambian sides two memoranda of understanding with the audit offices of Cyprus and The Gambia for cooperation in the fields of accounting, oversight, and professional work, and to sign them after completing formal procedures.
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