State Real Estate Authority reforms itself [Archives:2005/831/Business & Economy]

April 7 2005

Mahyoub Al-Kamaly
Sources at the State Authority for Real Estate say that the Authority is undergoing measures to improve investment in the state's real estate in an attempt to increase annual revenues.

The Authority has commenced several projects to develop and improve Yemen's cities and seaports in conjunction with the World Bank. The plan includes the governorates of Sana'a, Hodeidah and Hadramout at an estimated cost of $96 million over a 12-year period.

The Authority has already begun coordination with a number of relevant organisations in a bid to curb repetition between its activities and those of other groups to exceed the YR 500 million that it earned in revenue last year.