Objectives of the General Authority Saudi for Real Estate

The General Authority for Real Estate of the State is the body responsible for organizing the affairs of state real estate. The Council of Ministers, chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, decided to review the recommendation prepared by the Economic Affairs and Development Council No. (7/54/39 / D) 9 / 1439H, corresponding to 10/6/2108, the Council of Ministers decided to approve the transfer of the "State Property Department" to a public body on behalf of the "General Authority for State Real Estate" and its organizational arrangements.

General Authority of State Real Estate

The Ministerial Decision was issued to transfer the "State Property Department" to a public body called "The General Authority for State Real Estate", which was sponsored by the State Property Department and supervised by the Minister of Finance, Mohammed bin Abdullah Al-Jadaan The General Authority for State Real Estate, in accordance with the organizational arrangements approved by the Council of Ministers, aims to organize, protect, preserve, manage, optimize, supervise, standardize and develop policies related to state property.

The decision of the Council of Ministers to establish this body is in the interest of regulatory work and the development of government agencies in light of the keenness of the Government of the Custodian of the Two Holy Mosques to raise the efficiency of the performance of all government agencies as required.

State property is a source of government income.

"The decision is complementary to similar decisions aimed at preserving the state's property rights over the land and properties it owns according to the benefit of the state budget, while achieving its objectives at the same time to provide distinguished services to citizens and residents in various fields. The transfer of this inventory of land is often frozen to a source of government revenue, which is consistent with the direction of the vision of the Kingdom to optimize the use of resources available in the development of national income.

This decision provides the Authority with greater powers to register and restrict all properties and protect them from infringements and help to provide an opportunity with the private sector, but also to strengthen partnership with the private and public sectors. These properties can be invested in resources. And existing stock size.

Objectives of the State Property Authority.

The General Authority for Real Estate of the State, in accordance with its regulatory arrangements, aims to achieve the following:
- Organizing the affairs of state property
- Protection and preservation of state property
- How to behave and invest in the best way
- Supervision of state real estate
- Consolidation and formulation of policies relating to state real estate
- Follow-up of the implementation of the regulations and instructions on the state real estate.
- Development of an integrated electronic database with geographic information system for the state real estate.

Saudi Arabia Vision 2030.

The transformation of the State Property Department in the Ministry of Finance into a public body called the General Authority for State Real Estate will contribute to the development of government agencies and improve their efficiency. This will help achieve the vision of the Kingdom of Saudi Arabia 2030 from an accurate review of government structures and procedures and the distribution of tasks, responsibilities and authorities, Ensuring the clear separation between the decision-making process and implementation and monitoring implementation, and work on the development of possible units in the government to monitor implementation and follow-up performance in accordance with the best global practices followed, and support the necessary human and material potential and systematic. These units will coordinate all government agencies and other relevant agencies to help them monitor and improve their performance, leading to more flexible and effective performance.