In order to accelerate the work of real estate developers, the Wafi Committee recently issued 8 off-plan sales licenses and 12 marketing licenses for projects inside and outside the Kingdom, in addition to renewing 5 other marketing licenses and qualifying 12 real estate developers to work on off-plan sales projects “under construction”.

Wafi Committee has recently issued 8 off-plan sales licenses and 12 marketing licenses for projects inside and outside the Kingdom in addition to renewing 5 other marketing licenses and qualifying 12 real estate developers to work on off-plan sales projects “under construction”. The committee approved granting 7 projects in Riyadh, Taif, Khamis Mushait, Medina, Makkah, Tabuk and Dammam off-plan sales licenses with a total number of units exceeding 2600 real estate units, including apartments, villas, offices and shops.

The committee approved the granting of 7 projects in Riyadh, Taif, Khamis Mushait, Medina, Makkah, Tabuk and Dammam. The committee authorized the marketing of off-plan real estate projects inside the Kingdom in Riyadh, Makkah, Dubai and an overseas project in the United Arab Emirates. The committee approved the qualification of 12 real estate developers to work on off-plan sales projects “projects under construction” with their names registered in the register of real estate developers in the Ministry of Housing and granted them qualification certificates.

The Secretary-General of the Real Estate Committee said that the committee's secretary-general said that the committee's work will be carried out by the Ministry of Housing. The Secretary General of the Off-Map Sale and Leasing Committee, Nayef Al Sharif, explained that these projects will contribute to providing more housing units and contribute to raising the ownership rate, stressing that Wafi licenses are only granted after all conditions and requirements are met in order to preserve the rights of beneficiaries.

Wafi licenses are not granted until all conditions and requirements are met.