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Federal properties and assets are getting a database: The Finance Ministry yesterday issued a new federal decree (pdf) to regulate and manage federal assets, which goes into effect next Wednesday, 28 March, according to a ministry statement. Under the law, the ministry will launch a digital platform to register all federal real estate assets and catalog any relevant information, including the asset’s value, topographic data and judicial rulings on the use of the property.
The scope:The law governs “federal real estate used for public services such as roads, railways, and bridges, along with movable assets that support these properties,” as well as intangible assets and non-real estate federal assets that are not for public use.
It also sets out rules for leasing and using these properties, as well as demolishing them.
Objectives: The new regulation aims to “efficiently govern federal assets, improve their use, and ensure sustainable growth” of both onshore and offshore state-owned assets.
