The Off-plan Sales and Leasing Committee (Wafi) revealed the volume of collection of existing off-plan sales, which amounted to more than one billion and 408 million riyals, where the central region topped the volume of projects with 39 projects. While the Western region topped the volume of collected amounts with more than 528 million riyals for 37 projects.

The Wafi Committee has recently approved a number of indicative models of agreements in off-plan sales projects, including (engineering consultant and legal accountant) that are concluded with the real estate developer as non-binding indicative models after they were presented to the public opinion.

This comes within a series of legislations and decisions to regulate the contractual relationship between workers in off-plan sales projects by clarifying the obligations and rights of all parties, protecting their rights and raising the level of trust and transparency between them.

This comes within a series of legislations and decisions to regulate the contractual relationship between workers in off-plan sales projects. During the first quarter of this year, the program issued about 19 licenses to sell residential projects “under construction” providing 17 thousand units, and the program approved the completion of two residential projects, as part of its efforts to promote investment in the sector, support supply and protect the rights of beneficiaries through the regulation of off-plan sale or rental activity in the real estate market; with the aim of raising the percentage of residential ownership to 70% by 2030 according to the targets of the housing program - one of the programs of the Kingdom Vision 2030 -.

The program comes within a series of legislations and decisions to regulate the contractual relationship between those involved in off-plan sales projects.