Wafi has adopted the mechanisms for calculating the quantities of construction work items for licensed off-plan sales projects in accordance with Cabinet Decision No. 536, which includes the establishment of quantities calculation mechanisms to determine the disbursement of payments for project expenses.

This comes as a continuation of the program's efforts to regulate the work in the real estate sector for off-plan sales projects and improve the level of control of cash flows, with the aim of increasing the real estate supply of high-quality housing units and increasing the ownership rate of Saudi families to 70%, to achieve the objectives of the Housing Program - one of the programs of the Kingdom's Vision 2030 -.

The program explained that the adoption of quantities calculation mechanisms for off-plan sales projects will effectively contribute to raising the level of transparency in licensed real estate projects and increasing their productivity by facilitating work procedures and developing them in line with each project and developments in the real estate market.

<According to the new mechanism, the real estate developer prepares the table of quantities and the table of relative weights for off-plan sales projects, in addition to approving the engineering consultant assigned to each project and submitting them for approval from Wafi, and adopting them as a reference for disbursing the contractor's dues from the escrow account and financing the project.

<For his part, the Chairman of the Committee for Sale or Leasing on the Map “Wafi”, Engineer Abdulaziz Mohammed Al-Muhaimid, stated that the real estate developer must prepare a balanced quantities table when contracting with the project contractor, to reflect all works according to the design plans in the concluded contracts, provided that it is detailed to the level of the executive work items with the quantity and unit price of each item.

It is noteworthy that the Wafi program provides the necessary licenses for projects under construction and follows up the rate of completion and the quality of their implementation, in addition to stimulating and qualifying real estate developers to create distinctive and integrated projects that meet the aspirations of Saudi families, and the program grants licenses for the sale, marketing and leasing of real estate units on the map to enhance the supply of residential and commercial units and promote investment in the sector, with the aim of increasing the percentage of residential ownership for Saudi families to 70% by 2030, in line with the objectives of the Housing Program - one of the programs of Vision 2030 -.

The program also provides licenses for the sale, marketing and leasing of real estate units on the map.