The Council of Ministers approved today, the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God protect him - the session, which was held on Monday afternoon at Al-Yamamah Palace in Riyadh, on the establishment of the General Authority for Real Estate, as follows:

The Cabinet approved the establishment of the General Authority for Real Estate.

After reviewing what was submitted by the Minister of Housing and after reviewing the recommendation prepared by the Council of Economic Affairs and Development No. (13-16/38/D) dated 13/3/1438 AH, the Council of Ministers decided the following:

After reviewing what was submitted by His Excellency the Minister of Housing and after reviewing the recommendation prepared by the Council of Economic Affairs and Development No. (13-16/38/D) and dated 13/3/1438 AH.

1.

2. The Public Authority for Real Estate shall coordinate with the concerned authorities to make the necessary arrangements to transfer the supervision of the activities stipulated in the organization of the Public Authority for Real Estate to the Authority, according to stages to be agreed upon with those authorities.