$96 million for investment in real estate [Archives:2005/866/Business & Economy]
The State' Real Estate started implementing $96- million worth projects for developing and improving Yemeni cities and ports in cooperation with the WB in the governorates of Sana'a, Hodeida and Hadramout.
The project is planned to be implemented in 12-year time within the frame of procedures and plans taken by the State's Real Estate to invest in properties and lands owned by the government, economically exploiting them in a modern method to raise annual revenues.
The project aims to upgrade the infrastructure and prepare government's lands and estates to be convenient for investment to ensure direct profit for citizens and to cope with the ongoing economic reforms in the States' Real Estate within the financial and administrative program currently implemented by the government.
In cooperation with the parties concerned, the State's Real Estate has worked on limiting specialization duality and raised its annual revenues to 500 million riyals in 2004.
The Area and Estate Record has finished works of the geographical cooperation of Yemen with modern network of geometrical points and area triangles that were undertaken by the French Geographical Institute.
Of the operational procedures implemented by the State's Real Estate, the establishment is working on a project for modernization of Yemen's map that started ten years ago with a total cost of 50 million French francs.
The project is aimed at fulfilling the needs and requirements for the social and economic development carried out by the Yemeni government. Works of geographic formation will help bring the geometrical foundation, the base of plan-related works, most important of which is the recording purposes of the in-kind estate.
The in-kind estate recording system works on raising the level of economic and social development through encouraging investment in all aspects of development and providing the database related to the estate wealth inside Yemen.
Currently the State's Real Estate is finalizing the works of G.P.S. system, which operates for specifying four points or signals. These are coordinates associated with land and reporting them directly to the head-office that contains the station. It has a great role in the process of fixing land and preventing any intrusion. This system includes two kinds of use: office use and field use either from real life situation or from the map.
The State's Real Estate faces plentiful of problems and obstacles during work which are, according to reliable sources, the lack of aerial outlines, documents and malpractices as well as the randomly-built houses in some areas.
The sources specify three main causes behind obstacles and problems facing activities of the State's Real Estate. Article 10 of the law No. 21 issued in 1995 confirmed that State's Real Estate is the only side responsible for dealing with issues related to government lands and properties, however, there are some ministries and institutions continued to issue contracts for lands used by them.
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