Does procurement generally cover real estate transactions?

The concept of procurement primarily relates to the process of acquiring goods and services to meet the operational needs of an organization. Typically, this encompasses tangible items such as equipment, supplies, and services rather than real estate transactions.

Real estate transactions usually fall under a different category due to their unique nature, which involves legal and regulatory considerations distinct from those found in standard procurement practices. These transactions are often managed by specialized departments or professionals who focus specifically on real estate, considering factors such as property valuation, zoning regulations, and market conditions.

While there may be instances where real estate acquisitions are made in connection with broader procurement strategies—especially in government or institutional contexts—real estate as a standalone category is usually treated separately from general procurement activities. Hence, it is not accurate to state that procurement generally covers real estate transactions.