MOMAH and SPGA sign an MOU to benefit from the municipal investment portal "Furas"

The Ministry of Municipalities and Housing, and State Properties General Authority signed a bilateral memorandum of understanding with the aim of developing the projects and investments under the jurisdiction of the State Properties General Authority by announcing them through Furas portal. This is to contribute to improving the investment environment, attracting investments, enhancing the productive and economic efficiency of state properties, and increasing their contribution to the local GDP within the framework of the goals of Vision 2030 of the Kingdom. The memorandum was signed in the presence of His Excellency the Minister of Municipalities and Housing, Mr. Majed bin Abdullah Al-Hogail, and His Excellency the Governor of the State Properties General Authority, Mr. Ihsan Abbas Bafakih. 

Representing the Ministry of Municipalities and Housing in signing the memorandum was the Deputy Minister for Investment and Revenue Development, Engineer Khalid bin Mohammed Al-Dughaither, while the SPGA was represented by the Deputy Governor for Investment and Business Development Sector, Hamza bin Abdulaziz Al-Askar.

The memorandum of understanding comes from the keenness of both parties to enhance joint work and integration between government entities to stimulate local capital and attract foreign investments under facilitated procedures in a transparent environment that provides equal opportunities for competition. SPGA will utilize Furas portal to offer and manage SPGA’s investment opportunities.

It is worth mentioning that Furas portal is a key platform for offering and managing investment opportunities presented by the municipalities and secretariats of the Kingdom. It enables investors to easily access all details of the opportunities, apply for them, and sign contracts electronically. Investors can benefit from the services provided by visiting the following link: https://furas.momra.gov.sa/ar