"Wafi" issues and renews eight sales and marketing licenses on off-plan sales. | Ministry of Housing

Ministry of Housing


التاريخ الهجري

Monday 16 Jumada al-Ula 1440 on January 21, 2019

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22/9/1439 -on- 05/06/2018"Wafi" issues and renews eight sales and marketing licenses on off-plan sales.

The off-plan sales or rent committee "Wafi" recently issued three sales licenses and three other licenses to market projects inside and outside the Kingdom, in addition to the renewal of two marketing licenses for real estate projects with the off-plan sales system.

The committee agreed to grant sell licenses to three projects in Riyadh and Yanbu with a total of more than 2,000 different real estate products varied between apartments, villas, offices, shops and developed land. The committee also authorized the marketing of the off-plan sales real estate projects in Riyadh, Makkah and Dubai in the UAE.

The Secretary-General of the off-plan Sales or Rent Committee "Wafi" Naif bin Nawaf Al-Sharif clarified that these projects will contribute to provide more real estate opportunities for those wishing to own houses early during the implementation of projects, noting that "Wafi" seeks through the issuance of these licenses to contribute to increase the size of housing projects in the Kingdom and provide adequate housing at an affordable price.

Al-Sherif confirmed that Wafi licenses are granted only after all the conditions and requirements have been met, in order to preserve the rights of the beneficiaries and to confirm the implementation of the obligations of the projects developers. Noting that program supervises the fully licensed projects through its engineering teams to reported periodically for everything about the projects and notes thereto.

Al-Sherif pointed out that the recently issued sales licenses included 1182 housing units (under construction) of the type of "Townhouse" in Yanbu, renewal of license to market 741 hotel units next to the Holy Mosque in Mecca and two licenses to sell 950 lands to be developed on the off-plan sales in Riyadh, and an external marketing license for 110 hotel units in Dubai.

The program launched the application of "Wafi" smart devices to serve users of developers and buyers, to contribute in introducing the licenses mechanism granted by the program and their types, in addition to the possibility of reporting any violation of the off-plan sales projects at any stage, whether sales or marketing or offer through the " Monitor " section which is available in the application.