The “Wafi” Off-Plan Sales and Leasing Committee today issued an off-plan sales license to Roshan Real Estate, the national real estate developer of integrated residential neighborhoods, to conduct off-plan sales for its first residential project, “Al-Sadrah District” in Riyadh, in the presence of His Excellency the Deputy Minister of Municipal, Rural, and Housing Affairs, Engineer Abdullah bin Mohammed Al-Badeer. The license was presented at the Ministry’s headquarters by the Committee’s Chairman, Engineer Abdulaziz Mohammed Al-Muhaimeed, to Roshen Group CEO David Grover.
In a press release, “Wafi” explained that the license granted for the off-plan sale of residential units in the “Al-Sidra” neighborhood, which offers 3,055 diverse residential units, as part of the first phase of the Roshen project in Riyadh, which spans an area exceeding 20 million square meters and includes more than 30,000 residential units.
Engineer Abdulaziz Mohammed Al-Muhaimeed, Chairman of Wafi’s Off-Plan Sales and Leasing Committee, that the mature and effective partnership between the Ministry of Municipal, Rural Affairs, and Housing and the private sector has contributed to the creation of a large number of high-quality residential projects aimed at increasing the homeownership rate among Saudi families to 70% by 2030, in line with the objectives of the Housing Program—one of the programs under the Kingdom’s Vision 2030—noting that “Wafi” will continue to coordinate the issuance of off-plan sales licenses for other major projects in the coming period.
David Grover, CEO of Roshen Group, emphasized the importance of obtaining the license, which marks a true turning point for the company in achieving the goals of Saudi Vision 2030, and meet Roshen customers“ expectations by providing homes that suit their needs within neighborhoods with integrated services, thereby enhancing their lifestyle. He expressed his gratitude to the ”Wafi“ team for their efforts in securing the license.
It is worth noting that ”Wafi“ issues the necessary permits for projects under construction and monitors their completion rates and quality of execution, in addition to motivating and qualifying real estate developers to create distinctive and integrated projects that meet the expectations of Saudi families, The program also grants licenses for the sale, marketing, and leasing of off-plan real estate units to support an increase in the supply of residential and commercial units and to boost investment in the sector, with the goal of increasing the homeownership rate among Saudi families to 70% by 2030.