On July 8, 2025, the Saudi Arabian Cabinet approved a new property ownership law allowing foreigners to own real estate in designated areas such as Riyadh and Jeddah, effective from January 2026. This move is part of Saudi Arabia's broader Vision 2030 plan aimed at diversifying the economy and attracting foreign direct investment. The law marks the first time non-Saudis can purchase property in the kingdom, aligning Saudi Arabia with other Gulf states like Oman and Qatar, which permit foreign ownership for vacation homes and second residences. Additionally, the Cabinet approved multiple memoranda of understanding (MoUs) and cooperation agreements with countries including Argentina, Oman, Austria, Italy, Chad, Thailand, the United Arab Emirates, Somalia, and Denmark across sectors such as agriculture, finance, mining, modern transportation, investment protection, counter-terrorism, and logistics. The Cabinet also endorsed reforms in property ownership regulations, the organization of the Public Irrigation Authority, and extended the affordable mortgage program for three more years. Furthermore, the government recognized achievements in financial sector development, human capital growth, and digital transformation, including the integration of artificial intelligence into general education curricula to support the transition toward a knowledge-based society. Saudi Arabia continues to emphasize its pivotal regional role and commitment to sustainable growth and international cooperation.