Wafi announced the issuance of 55 licenses for off-plan sales projects providing 24,328 housing units during the first half of 2021, of which 30 licenses providing 7466 housing units were issued in the second quarter of the year, and the program announced the completion of 4 projects by 100% in 2021.
In its report on the achievements of the second quarter, Wafi indicated that the licenses issued included 7 licenses for housing sector projects for 1933 housing units, 6 licenses for private sector projects for 2864 housing units, while the licenses issued included 9 licenses for small and medium-sized projects, 3 licenses for the sale of development housing projects for 1027 housing units, and 5 internal marketing licenses for 1377 housing units.
The program revealed that it carried out 194 monitoring tours on projects during the second quarter of 2021, bringing the number of monitoring visits carried out by the program since the beginning of the year to 459 tours, during which 142 violations were seized, within the program's efforts and its monitoring role in following up the completion of housing projects.
The program stressed its keenness to preserve the rights of buyers and follow up the commitment of real estate developers to the standards and specifications specified in the contracts concluded between the parties to the project by directly supervising the licensed projects and reviewing their engineering reports, as during the second quarter it completed the review of 345 engineering reports for residential projects, bringing the number of reviews since the beginning of the year to 657 reviews, and Wafi qualified 53 companies during the second quarter.It is worth mentioning that the Wafi program is not limited to licensing and following up projects and their completion rate and quality, but exceeds this as a major catalyst to qualify real estate developers capable of creating distinctive projects with high quality that meet the desires of beneficiaries, and the program grants licenses to sell, market and lease real estate units on the map to increase the supply of residential and commercial units and promote investment in the real estate sector.
The program also grants licenses for the sale, marketing and leasing of real estate units on the map with the aim of increasing the supply of residential and commercial units and enhancing investment in the real estate sector.
