In a move that reflects a trend toward strengthening institutional integration among government agencies, the General Real Estate Authority and the General Authority for Endowments the first Partnership Council between the two entities, establishing a new regulatory framework to coordinate efforts and develop the endowment real estate system, thereby contributing to improving the efficiency of endowment asset management and maximizing their economic and developmental returns.
The Partnership Council serves as an institutional platform for governing cooperation between the two parties by monitoring the implementation of joint projects, setting work priorities, and aligning strategic initiatives—thereby accelerating project completion, enhancing coordination, and supporting decision-making related to the development of the endowment real estate sector.
The launch of the Partnership Council takes on particular significance in light of the growing role of endowment real estate as an economic pillar, as the unification of efforts between the General Authority for Real Estate and the General Authority for Endowments contributes to strengthening governance and improving the efficiency of investment in waqf assets, and creating a more integrated environment to support the growth of this vital sector.
The Council is expected to help accelerate the implementation of joint initiatives and develop policies and procedures governing endowment real estate, thereby enhancing the sustainability of endowments and increasing their contribution to economic and social development, in line with the objectives of Saudi Vision 2030, which attaches increasing importance to the endowment sector as one of the key drivers of sustainable development.
The launch of the Council took place during a visit by the CEO of the General Real Estate Authority, Engineer Abdullah bin Saud Al-Hammad, to the headquarters of the General Authority for Waqfs, where he met with the Governor of the General Authority for Waqfs, Imad bin Saleh Al-Kharaashi, in a meeting that addressed prospects for joint cooperation and priorities for the coming phase, given the growing volume of work and initiatives bringing the two entities together.
