The Ministry of Municipal and Rural Affairs announced an ambitious plan to partner with real estate developers in developing and investing lands belonging to secretariats and municipalities in cooperation with private sector investors.

The Ministry of Municipal and Rural Affairs confirmed its readiness to remove all obstacles and provide facilities to attract those wishing to invest as part of its plan to develop municipal revenues.

The ministry emphasized its readiness to overcome all obstacles and provide facilities to attract those wishing to invest in its plan to develop municipal revenues.During the meeting held by the Real Estate Committee of the Riyadh Chamber, chaired by Board of Directors member Aiad Al-Wabri, in the presence of a group of members, he praised the joint development agreements with real estate developers for the lands owned by the secretariats, pointing out that the ministry is looking to conclude partnership agreements to develop the lands owned by the secretariats in the regions of the Kingdom to reflect positively on the economic movement of some cities and governorates by raising the quality of implementation and improving the civilized face of cities, by implementing a range of service, recreational and tourism projects and tourism

For his part, board member and chairman of the committee, Aiad Al-Wabri, explained that the meeting concluded by setting frameworks for this partnership between the ministry and developers, including legal, supervisory, legislative, governance and administrative systems, with the aim of defining and allocating tasks and responsibilities between the two sides, stressing the need to hold periodic meetings between the committee and the General Department of Revenue Development at the ministry to discuss developments that coincide with the investment processes referred to.

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