GCC Secretary General: Gulf housing initiatives reflect commitment to enhancing quality of life

- Accelerating cooperation and developing policies to keep pace with the needs and aspirations of the Gulf citizen

- Kuwait engages real estate developers and develops infrastructure for new cities

The Secretary-General of the Gulf Cooperation Council (GCC) Jasem Al-Budaiwi stated in Manama today, Wednesday, that the initiatives and distinctive programs undertaken by GCC countries in the housing and urban development sectors embody their firm commitment to providing a decent standard of living for their citizens and building sustainable Gulf residential communities.

This came during a speech delivered by Al-Budaiwi at the 24th meeting of the Ministers Committee for Housing Affairs in GCC countries, held under the chairmanship of Bahrain’s Minister of Housing and Urban Planning, Amina Al-Rumaihi, and attended by Kuwait’s Minister of State for Municipal Affairs and Minister of State for Housing Affairs, Engineer Abdul Latif Al-Mutairi, along with the ministers responsible for housing affairs in the GCC member states.

Al-Budaiwi added that the housing sector represents a fundamental pillar in the journey of joint Gulf cooperation, receiving continuous attention and support from the leaders of the GCC states. He expressed his gratitude and appreciation to the King of Bahrain, Hamad bin Isa Al Khalifa, for hosting the meeting in the Kingdom of Bahrain, and for the facilitations and support provided and offered by the Kingdom to ensure the success of the Council’s work, as well as for the continuous support and attention given by His Majesty and the leaders of the GCC states to joint Gulf cooperation across all fields.

He noted that interest in housing is reflected in numerous decisions and initiatives, whether national ones adopted by the GCC states or those related to joint Gulf cooperation, which have contributed to developing the trajectory of joint Gulf housing efforts and strengthening cooperation and coordination frameworks among the GCC states. The latest such initiative was the adoption by the Supreme Council of the GCC, during its 46th session, of the unified rules for co-ownership of real estate in GCC countries.

He pointed out that this represents an important step in developing relevant regulatory frameworks for the housing sector, enhancing convergence among the GCC states, and advancing joint Gulf housing efforts toward greater integration and effectiveness. He emphasized the importance of accelerating the pace of cooperation and integration among the GCC states, and developing housing policies and programs to keep pace with the needs and aspirations of the Gulf citizen, while leveraging modern technologies and innovative solutions to provide more efficient and sustainable housing options.

He also highlighted the United Arab Emirates’ efforts to accelerate housing support and develop integrated residential complexes in partnership with national banks, while the Kingdom of Bahrain continues to expand partnerships with real estate developers and deliver housing services through electronic platforms.

He noted the Kingdom of Saudi Arabia’s work to enable families to access their first home and activate the real estate balance path to increase supply, while the Sultanate of Oman continues to accelerate the development of smart cities, led by Sultan Haitham City.

He pointed out that the State of Qatar is proceeding with improving land utilization efficiency, facilitating regulations, and securing infrastructure, while the State of Kuwait is engaging real estate developers and developing infrastructure for new cities, while solidifying sustainability standards.

He stated that these efforts constitute a fundamental source for achieving the targets of joint Gulf urban development and enhancing the capacity of the GCC states to build a more integrated, flexible, and sustainable housing system.