<Under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, the Cabinet decided in its session on Tuesday that the amounts allocated for the private sector partnerships initiatives will be deposited in the budget of the Ministry of Housing. The initiatives included in this decision include: (the initiative to hold partnerships with private sector developers on the Ministry's lands, the initiative to stimulate the development of residential products on lands subject to white land fees, the initiative to stimulate the development of residential products on private sector lands, and the initiative to develop ministerial lands. <The transfer of funds under this decision, for the current fiscal year and future years, will be in the account of the National Housing Company in installments, to be agreed upon between the Ministry of Housing and the Ministry of Finance, under the supervision of the competent supervisory committee. Minister of Housing Majid Al-Hogail praised the decision and considered it an extension of the support and care given by the leadership to the ministry and its reflection on the quality of the services it provides to the people of this country, as it will accelerate the increase in real estate products and strengthen the partnership with the private sector, which is a key partner in development.

Hogail stressed that the decision contributes to providing many housing products with multiple options and high quality to suit the needs of applicants for housing support. Al-Huqail stressed that this great support received by the Ministry from the Custodian of the Two Holy Mosques and His Highness the Crown Prince with the approval of the Council of Ministers, which reinforces the objectives of the Kingdom's Vision 2030 and the National Transformation Program 2020, and will have a role in improving the performance of the real estate sector and raising its contribution to the GDP, in addition to stimulating the real estate supply and raising productivity to provide housing products at the right price and quality, stressing the contribution of this decision to achieve one of the goals of the National Transformation Program to raise the percentage of home ownership for citizens.

Haqeel emphasized that the decision contributes to achieving one of the goals of the National Transformation Program.