Real estate authority draws plan for sector's comprehensive strategy: Governor

The Real Estate General Authority (REGA) started to develop the executive plan necessary for putting the updated comprehensive strategy of the real estate sector into effect, Vice Chairman & Governor of REGA, Issam Al-Mubarak, told Al-Arabiya TV.

The authority also started the formation of committees to implement this strategy, which was developed a year ago, he added.

The new strategy was made by foreign and local experts in partnership with various authorities, mainly the Ministry of Housing and other competent entities, Al-Mubarak said.

The planned strategy will mark a qualitative shift in updating laws and regulations, as well as enhancing the performance efficiency of government agencies, Al-Mubarak explained, noting that it will be assessed by 22 indicators.

On Dec. 8, Saudi Arabia’s Cabinet, chaired by King Salman bin Abdulaziz, approved the updated comprehensive strategy of the real estate sector, Argaam reported.