Exemption of govt entities from property rental law to boost PPP: Al-Jadaan

09/06/2021 Argaam

Finance Minister Mohammed Al-Jadaan

Minister of Finance Mohammed Al-Jadaan said that the exemption of government entities from Article (7) of the Property Rental and Eviction Law is expected to provide a further support for the public-private partnership (PPP).
 

The decision enables the private sector to participate in the projects of providing headquarters for government entities. In addition, it contributes to enhancing the development roles of the State Properties General Authority (SPGA), in line with Vision 2030, said the minister.
 

For his part, Ihsan Bafakih, Governor of SPGA, said that the decision provides more incentives for enhancing partnership between the public and private sectors.
 

It will also help achieve the optimum utilization of state properties and boost their economic efficiency.
 

The Saudi Cabinet approved, in a meeting held yesterday, the exemption of the government entities, which rent buildings constructed within investment projects concluded between the General Authority for State Properties and other investors on state-owned land plots, from Article (7) of Property Rental and Eviction Law.

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