His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, extended his thanks and gratitude to His Highness Crown Prince and Prime Minister His Royal Highness Prince Mohammed bin Salman bin Abdulaziz - may God protect him - for the generous approval that aims to regulate the real estate environment and promote market balance, stressing that this step reflects the wise leadership's interest in providing comprehensive development solutions that respond to citizens" needs and meet their aspirations in the Kingdom's cities.

His Excellency explained that the approval puts the citizen at the center of its attention and priorities, especially in Riyadh. He explained that the approval puts the citizen at the center of its attention and priorities, especially in Riyadh, by addressing the challenges associated with high land prices and rents, and working to enhance real estate supply with thoughtful mechanisms that ensure sustainability and diversity.

Haqeel pointed out that the approval puts the citizen at the center of its attention and priorities, especially in the city of Riyadh, by addressing the challenges associated with high land prices and rents. Al-Hogail pointed out that the white land program is an important tributary in the efforts to regulate the real estate market and reduce monopolistic practices, indicating that completing the regulatory procedures for the white land program will contribute to enhancing its effectiveness and achieving a positive impact in the medium and long term, serving all parties in the sector, including developers, owners and beneficiaries.

In the same context, H.E. Al-Hogail stressed that the white land program is an important part of the real estate sector. In the same context, His Excellency stressed that the adoption of regulatory controls for the rental market represents a qualitative leap towards enhancing transparency, protecting rights, and providing a fair environment that ensures the stability of the contractual relationship between landlords and tenants, thus enhancing the attractiveness of this vital sector.

His Excellency concluded. Minister Al-Haqeel concluded his statement by noting that the General Real Estate Authority, in cooperation with the Royal Commission for Riyadh City, will assume the tasks of monitoring real estate prices in the capital and submit periodic reports to the Council of Ministers, in order to enhance the efficiency of real estate policies, contribute to the stability of the market and achieve its development goals.

Minister Al-Haqeel concluded his statement by pointing out that