Saudi Cabinet has approved appointing three private sector employees to the State Real Estate Authority’s board for a three-year term, Saudi Press Agency has reported.

 

The Saudi cabinet recently approved converting the State Property Department into a general authority, to be named State Real Estate Authority.

 

Saudi finance minister Mohammed Al-Jadaan has previously said that converting the State Property Department into a public authority will help boost its performance.

 

The new entity would be in charge of the state properties and would define the best investment opportunities, lay out policies and develop a related data base, in line with Saudi Vision 2030.

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