The Minister of Municipalities and Housing Leads the Kingdom’s Delegation at the GCC Housing Ministers’ Meeting in Manama and Highlights Developments in the Housing and Financing System.

Thursday 01 October 2026

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His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, led the delegation of the Kingdom of Saudi Arabia at the 24th meeting of the Committee of Ministers Responsible for Housing Affairs in the Gulf Cooperation Council (GCC) countries, held today in Manama, with the participation of Their Excellencies and Highnesses, the Ministers of Housing of the GCC countries.

The meeting discussed a number of issues related to developing the housing sector and strengthening joint GCC cooperation, supporting the exchange of expertise and the development of housing policies and practices among the GCC countries. These included following up on the implementation of the unified regulations for property owners in the GCC countries, approved by the Supreme Council.

The Kingdom also undertook the preparation of the “Guidelines for Applying Sustainability Standards in Housing Projects,” which will enhance the exchange of practices and expertise in housing sustainability at the GCC level.

On the sidelines of the meeting, His Excellency the Minister participated in a ministerial dialogue session entitled “The Future of National Housing: Innovative Policies and Sustainable Solutions,” where he highlighted the transformations taking place in the housing sector amid changing family needs, diverse lifestyles, and varying needs across generations and geographic regions.

His Excellency explained that these transformations require a shift from traditional thinking about housing toward a more integrated system based on data and modern technologies, bringing together citizens, developers, financiers, regulators, and technology. This will help better understand demand and accelerate the development of more suitable housing solutions, policies, and products.

His Excellency emphasized that housing empowerment goes beyond simply providing a housing unit, particularly for the most vulnerable groups. He highlighted the importance of integrating support, financing, and housing with family needs and employment opportunities in a way that enhances beneficiaries’ ability to achieve stability and self-reliance.

He also highlighted the important role that the third sector can play within this system, given its closer connection to the most vulnerable groups and its ability to contribute to developing solutions that combine different forms of support and respond to families’ needs.

Regarding financing, His Excellency explained that the transformation of the housing model requires restructuring the financing chain, while strengthening the role of the financing sector in financing housing units and supporting construction, alongside developing financial instruments capable of providing long-term liquidity.

He stressed the importance of developing securitization markets, activating the role of guarantee and refinancing companies, and standardizing financing products and standards. This would enable investors to better understand the market and inject liquidity into it. He noted that long-term housing finance requires instruments that meet needs extending over 20 and 30 years, given banks’ reliance on short-term deposits.

His Excellency highlighted the Kingdom’s experience in developing the financing and financial markets and establishing specialized institutions, noting the contribution of this ecosystem to developing financing products, attracting investors, and providing solutions with long-term maturities.

During the ceremony held alongside the meeting, the seventh edition of the GCC Housing Awards was announced. The “Khiyala Residential Destination” project ranked third among projects across the GCC countries. The Abdullah Al-Othaim and Sons Charitable Foundation was also honored among the participating institutions, while Mr. Mohammed Yousef Naghi was recognized among the “Good Hands” category, in appreciation of their contributions to supporting developmental housing.

His Excellency concluded by emphasizing the importance o

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The Kingdom of Saudi Arabia