Saturday 14th February 2015 Al Jazirah - Saga Aaref: The Real Estate Union in Islamic States - one of the specialized organizations affiliated to the OIC - signed an Agreement with the Federal government of Somalia to monitor and study the Somali real estate assets around the world.

Dr. Muhammad YahyaAl Mufarreh have signed on behalf of the Union, while the Minister of Foreign Affaires Dr. Abdirahman Dualeh have signed on behalf of the Somali party

The first phase has already begun by studying 14 real estate locations, many of them are currently not utilized, owned by the Federal Republic of Somalia in Djibouti. This is before moving to study and develop the real estate properties which are in Europe, America and the rest of the African continent.

Al Mufarreh said in a statement for Al-Jazirah that this Agreement will go through several phases that start by conducting an inventory and study of the Somali government properties in the countries stated in the Agreement according to the priorities of the Somali party. Hence, an integrated study for each property will be presented to the Somali Government. He mentioned that this Agreement will have positive economic impact on the modern country of Somalia and that the next phase will be witnessing the Union's signing of Agreements to launch, during the upcoming months, renovation or demolition & reconstruction works, according to the status of each real estate property.

From his side, the Somali Minister of Foreign Affaires and International Cooperation, Dr. Dualeh, said that based on this Agreement the Union will start studying the properties of the Somali government abroad, especially the abandoned headquarters and embassies. He pointed out that the rehabilitation of Somali headquarters and embassies will be launched from neighboring countries to Somalia such as Djibouti and Kenya. He mentioned that those properties belonging to the government of Somalia represent a great importance to the Federal Republic of Somalia who strives to regain its pioneering diplomatic role. He added that construction and renovation will include Somali embassies in Europe and America.

http://www.al-jazirah.com.sa/2015/20150214/ec10.htm