With a cost exceeding 608 million riyals and a total area of over (760,000) square meters, the Off-Plan Sales Program has issued a sales permit for 530 undeveloped plots in the Al-Deira Residential Project, owned by the Ghassan Al-Nimr Real Estate Investments Group, which is located south of King Abdulaziz Port in Dammam. The project is expected to be completed within 13 months, as infrastructure development work has already begun.

This step is part of the program’s efforts to facilitate home ownership for citizens, as the off-plan sales program allows buyers to acquire property at a lower cost, while also granting the real estate developer the right to obtain direct financing through buyers" payments.

It is worth noting that the program authorizes the sale of real estate units off-plan regardless of their intended use, as well as the sale of land off-plan, the marketing of off-plan real estate within the Kingdom, the display of off-plan foreign real estate units at exhibitions within the Kingdom, and the display of off-plan domestic real estate units at exhibitions within the Kingdom.

It is noted that a Royal Decree has been issued approving the transfer of oversight of off-plan sales activities and the committee formed for this purpose from the Ministry of Commerce and Investment to the Ministry of Housing, where final arrangements for this are currently being made.