The Ministry of Housing’s off-plan sales program offers a number of services to its clients, the most important of which is the marketing and sale of real estate units before or during the development or construction phase. The Ministry oversees the real estate developer’s work and monitors implementation in accordance with the timeline and the agreed-upon design and specifications.

Mohammed Al-Ghazwani, Secretary-General of the Off-Plan Sales Program, explained this in a press statement, noting that the program aims to reduce the costs of owning real estate units, in addition to protecting buyers" rights through regulations and procedures that ensure this, as well as increasing transparency in the real estate market, fostering and stimulating competition among developers through a rating system, contributing to an increase in supply through the development of real estate projects, and enhancing the ability of development companies to transition from individual to institutional operations,emphasizing that the program protects the rights of parties involved by including a clause in the project’s property deed, notarized by a notary public, prohibiting the disposal of the property, or coordinating with the financial institution partially funding the developer to ensure the property is not disposed of under certain conditions, in addition to depositing all funds into the project’s escrow account and ensuring the presence of an engineering consultant and a certified public accountant, adding that on-site visits to licensed projects protect buyers, which is something we are also working on.

He noted that the program enables citizens to purchase real estate units at a lower cost and with payments aligned with the project’s completion milestones, while also providing sufficient safeguards to protect their rights through regular monitoring and supervision of licensed projects.