The Local Content and Government Procurement Authority (LCGA) crowned Real Estate Registry with the Excellence in Local Content Award for SMEs, achieving the first place in the public services sector with a local content ratio of 78.05%, during a ceremony held recently under the patronage and presence of His Excellency the Minister of Industry and Mineral Resources and Chairman of the Local Content and Government Procurement Authority, Mr. Bandar bin Ibrahim Al Khuraif, in Riyadh city.

The CEO of Real Estate Registry, Dr. Mohammed Al Sulaiman, said Dr. Mohammed Al-Sulaiman, CEO of Real Estate Registry, said: "This honor reflects the commitment of the Real Estate Registry to promote local content in all its work and procurement, and to direct spending towards local companies that have proven their ability to implement innovative pioneering projects, stressing that investing in national capabilities and supporting local companies is an important basis for achieving sustainable development and economic prosperity in the Kingdom."

The ceremony was held recently under the patronage of His Excellency the Minister of Industry and Mineral Resources and the Chairman of the Local Content and Government Procurement Authority, Mr. Bandar bin Ibrahim Al-Khorayef.

Promoting local content

The award emphasizes the pivotal role of the Real Estate Registry in promoting local content and empowering Saudi talent in the real estate sector, one of the most promising economic sectors, to enhance its contribution to the development of local content.

The award reflects the importance of the Real Estate Registry in the Kingdom. The award embodies the importance of local content in driving economic development and promoting self-sufficiency. It also represents an incentive for national companies to innovate and develop their competitive capabilities and participate in the development of local content and raise the rates of commitment to its requirements. It also seeks to raise the levels of participation and develop the performance of competitors in directing their purchases and contracts towards local content elements, with the aim of enhancing local capabilities and maximizing the benefit from the national purchasing power, to achieve the objectives of the Kingdom Vision 2030 in achieving growth and economic diversification.

This award confirms the pivotal role of the Land Registry in promoting local content and empowering Saudi competencies in the real estate sector, one of the promising economic sectors, to enhance their contribution to local content development and development.