NEOM: A system for selling and leasing real estate projects off-plan in Saudi Arabia was approved during Tuesday’s cabinet session in NEOM chaired by King Salman, Saudi Press Agency reported.
The cabinet also reviewed the Kingdom’s efforts to provide assistance to those affected by recent flooding in Libya, including food packages and shelter construction.
The cabinet members praised Saudi Arabia’s positive credit rating from global financial institutions and its economic diversification program. Standard & Poor’s recent rated the Kingdom A/A-1 with a stable outlook.
They also discussed the outcomes of the G77 + China summit held in Cuba over the weekend, which Saudi foreign minister Prince Faisal bin Farhan attended on behalf of King Salman.
The council also praised the announcement of the establishment of a council of Arab cybersecurity ministers under the governance of the Arab League, which will have a general secretariat and executive office based in Riyadh.
