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4 Strategic Goals, 21 Initiatives to Raise Efficiency of Saudi Arabia’s Real Estate Spending

4 Strategic Goals, 21 Initiatives to Raise Efficiency of Saudi Arabia’s Real Estate Spending

Tuesday, 19 October, 2021 - 07:45
The SPGA seeks to implement its mission to preserve the state's real estate and raise its productive and economic efficiency through innovative solutions. (Asharq Al-Awsat)

Saudi Arabia’s State Properties General Authority (SPGA) said that it is working on its vision of maximizing the effectiveness of the state’s real estate and achieving sustainable development by adopting four strategic goals, 21 initiatives and 14 performance indicators.


The strategic goals include defining an integrated and transparent regulatory framework for state properties and its enforcement and optimizing their use, as well as rationalizing rental and expropriation expenses of government agencies with the application of energy efficiency standards and applying the best specifications and standards in government properties, the Authority explained.


The strategic goals are based on four pillars, namely protection, efficiency, quality and productivity, it said, adding that the 21 initiatives emerged from these pillars.


These include the review and creation of new laws and regulations, the combination, documentation, issuance and update of state real estate deeds and contracts, digital transformation of the Authority's services, land allocation based on the needs, lease of real estate that are feasible for investment, and the recovery of unutilized state real estate.


SPGA also stressed that it seeks to implement its mission to preserve the state's real estate and raise its productive and economic efficiency through innovative solutions.


Several positive indicators have been recently achieved and contributed to the protection and development of the state’s real estate system, the authority noted.


They have also played a role in maximizing its development role, raising the real estate balance and pumping it into major economic and development programs in accordance with Vision 2030, it added.


The Authority was established as part of the Kingdom’s major economic transformations aimed at achieving an optimal and effective exploitation of investment, as well as using, operating and maintaining the state real estate in a manner that is consistent with the goals of Vision 2030.


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