The Attribution and Liquidation Center “Infath” revealed in a recent report (which was reviewed by “Okaz”) that the center was able in the past year 2022 to liquidate assets with an average increase of 60% over the average value of the asset’s evaluation, although the evaluation of the forced sale is less than the market value by an average of 15%.
He announced that the center was able to fulfill rights equivalent to 8.8 billion riyals, by offering more than 10.9 thousand assets in 556 auctions, with more than 13 thousand study and evaluation reports of assets.
The center disclosed that the average number of liquidation days amounted to 132 days, with its ambition to raise it to 60 days as a target in 2025. The total amounts collected are 8.8 billion riyals, compared to 2.6 billion riyals in 2021, and the number of assets offered in auctions increased by 541%, to reach about 10.9 thousand assets last year compared to only 1,700 assets, while the number of assets sold amounted to 7,100 assets after they were in 2021 Only about 1,500 assets, an increase of 373.
With regard to the liquidation of joint funds, the center revealed that it included 29 legacies, and it was estimated during the inventory at an amount exceeding 15 billion riyals. Liquidation is the decisions of the civil executive, and identifying aspects of improvement to speed up the liquidation period, and raise the satisfaction rate of beneficiaries, to include an electronic link with government agencies and other agencies in the private sector to speed up inventory processes and data acquisition.
And the center expressed its distinction with strengths that make it capable of seizing opportunities that achieve competitive advantages due to its encounter with gaps in the market, and the most prominent of these opportunities is “the absence of a single government agency that provides integrated liquidation services to the government sector exclusively or to the private sector optional, which gives the center an opportunity to be the first destination and arm.” The executive liquidation services for government agencies, and the absence of difficulty in acquiring the provision of services to the government sector, and the desire of the private sector to deal with a government agency.