Saudi Arabia: The Saudi Cabinet's decision on approving the statute of the State Properties General Authority (SPGA) will enable it to achieve its strategic objectives of protecting the country's properties.

It will also maximize its role in development and economy and raise its production efficiency, SPA reported citing Mohammed Al-Jadaan Minister of Finance and Chairman of SPGA.

The move lays down a framework for the authority's organizational and executive roles, through implementing a comprehensive and transparent integrated organizational framework. The statute also achieves effective and reliable governance, transparency and spending efficiency in the state's property system.

Moreover, it will raise the public real estate sector contribution to the Kingdom’s gross domestic product (GDP) and national economy, in line with Vision 2030, Al-Jadaan concluded.