Saudi Arabia … A court ruling on state real estate worth 2,200 million – Economic – the world today

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The General Court in Makkah Al-Mukarramah issued a court ruling in favor of the General Authority for State Real Estate at a value of 2 billion and 200 million after the sums had been previously paid to dispossess two properties in Makkah.

The governor of the General Authority for State Real Estate in Saudi Arabia, Ihsan Bafakih, said that this case that the authority has won in court is the first of its kind of this size, and it concerns two properties that were seized in a project in Makkah Al-Mukarramah, appreciating the support and support of His Excellency the Minister of Finance, Chairman of the Board of Directors, Mr. Muhammad Al-Jadaan.

He added: The State Real Estate General Authority will continue to apply standards of transparency, fairness and governance in the standards of expropriation, establish controls for valuing real estate and achieve its tasks in preserving state real estate and contribute to protecting public funds, including studying similar files and instruments that are tainted by observations and statutory violations that require correction. According to a transparent regulatory framework and a set of specifications and standards necessary to achieve reliable governance of state real estate.

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