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Council OK's new article to foreign ownership of real estate
Published in The Saudi Gazette on 31 - 05 - 2011

JEDDAH: The Cabinet approved Monday the addition of a new article to the law governing the ownership of real estate by foreigners which gives the Cabinet final executive decision over the law.
The new Article 9 is the result of a Royal Decree issued on July 19, 2000.
In the meeting chaired by King Abdullah, Custodian of the Two Holy Mosques, ministers thanked Almighty Allah for the “remarkable achievements made by the Kingdom in the last six years of King Abdullah's leadership”.
They said that those years had seen the Kingdom make “comprehensive developments in all walks of life” and described King Abdullah's accomplishments as “concrete evidence of his efforts for the prosperity and welfare of the people”.
Ministers also noted the mega projects carried out upon the instruction of King Abdullah, his Royal Orders issued for public interest, his key role in international and regional initiatives, as well as his efforts to “invest the Kingdom's relations in international circles in the service of the Islamic and Arab causes and just international endeavors”.
In a statement to Saudi Press Agency following the meeting, Abdul Aziz Khoja, Minister of Culture and Information, said King Abdullah briefed ministers on his communications with foreign leaders, including Sultan Qaboos of Oman and Sheikh Hamad Bin Khalifa Al-Thani, Emir of Qatar.
Ministers also heard reports on the declaration of the ministerial meeting of the Non-Alignment Movement in Indonesia on the Palestinian issue and the statement from the Ministerial Committee of the Arab Peace Initiative meeting held in Doha.
The Cabinet stressed the importance of unifying efforts to forge ahead with peace based on legitimate international decisions giving the Palestinian people the right to self-determination and to establish an independent state with Jerusalem as its capital.
Ministers also approved a cooperation agreement between the Kingdom and Uzbekistan signed in Riyadh on Nov. 27, 2010, to combat terrorism, organized crime and drugs, and agreements related to information technology with Arab countries and India.


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