Saudi Arabia approves framework letting investors build new housing units

The Saudi Council of Ministers approved a framework that permits private investors to develop land and construct housing units for beneficiaries of the kingdom’s development housing programme. In return, investors receive a percentage ownership of the land they develop. The same meeting, chaired by Crown Prince and Prime Minister Mohammed bin Salman in Jeddah on 4 August 2026, also extended the deadline for correcting undocumented real‑estate transactions by one year.

During the session the Crown Prince referenced recent phone calls with leaders of the United States, Bahrain, Syria, Turkey and Spain, emphasizing Saudi Arabia’s focus on diplomatic dialogue and regional stability. The cabinet expressed support for joining a multinational maritime defence alliance aimed at safeguarding international shipping lanes in the Red Sea, Bab al‑Mandab Strait and the Gulf of Aden.