The Off-Plan Sales and Leasing Committee of the Ministry of Housing’s “Wafi” program has approved the license to sell and market 491 off-plan residential units in Riyadh, including 383 residential villas for the Saudi Real Estate Company in the Al-Qarya project in Hab Al-Ramal, with a total project area of 430,726 square meters, while it issued another license to Shuaa Al-Mada’in Real Estate Development Company for its “West of the Airport” project to sell 108 residential villas, with a total project area estimated at 43,200 m².
In the same vein, Mr. Mohammed bin Saud Al-Ghazwani, Secretary-General of the “Wafi” Off-Plan Sales and Leasing Program, explained that the program seeks to expand the scale of off-plan sales and leasing projects in the Kingdom, and to facilitate the issuance of the necessary licenses for developers“ projects in accordance with the regulations and systems established by the Ministry of Housing based on the Cabinet’s decisions regarding the regulation of these projects, noting that all real estate developers can apply for off-plan sales licenses through the electronic platform of ”Wafi,“ which was recently launched by the Minister of Housing as part of the Ministry’s efforts to streamline procedures for accessing its services in the easiest and fastest way possible.

Al-Ghazwani reaffirmed the Ministry’s determination to move forward through the ”Wafi“ to build a balanced system that contributes to creating a real estate market on par with global markets, fulfills the aspirations outlined in Saudi Arabia’s Vision 2030, and provides suitable housing for citizens at affordable prices.
It is worth noting that the Off-Plan Sales and Leasing Committee agreed during a recent meeting to lift the restriction on the project deed for ”Gardenia Residence” residential project in Jeddah, and to approve a request by Fursat Wahda Real Estate Development Company to renew the license to market off-plan properties for the “Gulf Park 2” project for a period of two months.