off-plan sales is a framework that regulates the relationship between the parties involved in off-plan sales and leasing projects, by defining the roles and responsibilities of each party, according to <a href="https://rega.This aims to enhance the reliability of real estate projects and ensure their implementation according to clear controls that preserve rights and support the success of projects.
First: The role of the Public Authority for Real Estate (regulation and control)
The Public Authority for Real Estate undertakes a range of regulatory and control tasks, including:
Licensing projects and qualifying developers.
Supervising escrow accounts and completion rates.
Supervising and controlling violations and protecting rights.
Secondly: Obligations of the real estate developer (implementation and guarantee)
Real Estate Developer Obligations
The real estate developer is committed to a number of requirements to ensure the implementation of the project according to the approved controls, including:
Compliance with technical specifications and timetable.
Transparency in disclosure and updating periodic reports.
Using the standard contract and delivering units on schedule.
Third: Beneficiary Responsibility (awareness and commitment)
Third: Beneficiary Responsibility (awareness and commitment)
Beneficiary Obligations
The beneficiary has responsibilities that contribute to protecting his rights and ensuring his contractual obligation, including:
Verifying the project license before contracting.
Understanding the terms of the contract and familiarizing himself with the rights and obligations.
Abiding to the agreed financial payment schedule.
