Engineer Abdul Latif Al Sheikh, Minister of Municipal and Rural Affairs, revealed that the ministry is currently working on updating the regulations governing the disposal of municipal real estate, with the aim of regulating municipal investment in real estate and municipal services, During his participation in the Biban 2017 Forum, he explained that the proposed amendments to the regulations focus on expanding private-sector participation, supporting small and medium-sized enterprises, and promoting long-term investment in large, pioneering projects that require a significant amount of technology, expertise, and financial investment, noting that small and medium-sized enterprises can play an important role in all types of investments in the municipal sector, whether through direct investment with municipalities or by investing in services supporting large-scale investments in partnership with private-sector companies.

Engineer Al-Sheikh noted that the Ministry is currently working, in collaboration with all relevant government agencies and the private sector, to update the National Urban Strategy, which represents the spatial dimension of development, and reflects the spatial dimension of the Vision 2030 goals, which, God willing, will help stimulate increased business activity across a diverse range of economic sectors. He emphasized the Ministry’s commitment to supporting, empowering, and motivating young men and women to achieve their dreams.