The State Properties Authority plays a major economic role

Saudi Arabia

The Saudi Council of Ministers’ decision to approve the statute of the General Authority for State Properties (SPGA) will enable it to achieve its strategic objectives of protecting state property. This will increase the role of economic development and increase production efficiency. This is what was mentioned by the Saudi Press Agency.

This step establishes a framework for the authority’s regulatory and executive roles, through the implementation of an integrated and transparent regulatory framework. The Basic Law also achieves effective and reliable governance, transparency and efficient spending in the state property system.

He concluded by saying that he would increase the contribution of the public real estate sector to the Kingdom’s GDP and the national economy, in line with Vision 2030.