The Council of Ministers praised the achievements of the fifth edition of Real Estate Future Forum, highlighting its broad international participation and the signing of dozens of agreements and memoranda of understanding that will strengthen the real estate sector’s role in development and support the achievement of national goals, during a session chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister—may God protect him—today, Tuesday, in Riyadh.
The Council explained that the Future of Real Estate Forum served as a global platform that brought together experts and specialists from various countries around the world, and resulted in the signing of 80 agreements and memoranda of understanding that contribute to the development of the real estate sector, enhance its efficiency, and strengthen its contribution to the process of comprehensive economic development, in line with the objectives of the Kingdom’s Vision 2030.
In a related context, the Council of Ministers reviewed the outcomes of the meetings and conferences recently hosted by the Kingdom, expressing appreciation for the active international participation in the second meeting of the Ministerial Council of the Middle East Green Initiative, which saw the approval of new members, bringing the total number of participating countries to 35, as well as the adoption of foundational steps paving the way for the launch of the initiative’s operational and development phase.
The Council emphasized the importance of renewing the commitments announced under the initiative, foremost among which are planting more than 22 billion trees and rehabilitating 92 million hectares of land, thereby supporting the achievement of regional environmental goals, contributing to addressing climate challenges, and strengthening global environmental efforts. The Council of Ministers also commended the outcomes of the International Conference on Capacity Building in Data and Artificial Intelligence held in Riyadh, including the launch of multi-sectoral initiatives and the signing of 27 agreements aimed at strengthening international academic partnerships, transferring knowledge, localizing technology, and supporting the objectives of the national strategy for the sector.
The Council also commended the outcomes of the Saudi Media Forum, held under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud —may God preserve him—which included strategic agreements and initiatives reflecting the development of the media sector in the Kingdom and its role in keeping pace with digital transformations and content creation, thereby cementing Riyadh’s status as a regional and global hub for creators and major events. The Council of Ministers reviewed the successes achieved in a number of government sector systems, affirming that the start of implementation of the National Privatization Strategy represents a step toward diversifying the national economy and consolidating the private sector’s pivotal role in development, opening new horizons for improving the quality of infrastructure and public services, and enhancing the attractiveness of the investment environment.
The Council commended the development and quality-focused projects launched in the industrial cities of Makkah and Jeddah, given their role in supporting the localization of priority industries, developing local content, and facilitating business operations, thereby contributing to regional economic development.
