Saif Salem Al-Suwailem, the official spokesperson for the Ministry of Municipal, Rural Affairs, and Housing, revealed that the number of projects overseeing the off-plan sale and lease program “Wafi” currently stands at 162 projects, comprising more than 170,800 real estate units, with a total sales value of approximately 119 billion riyals.

The “Wafi” off-plan sales and leasing program grants licenses for the sale and lease of off-plan real estate units regardless of their purpose—“residential, commercial – investment – office – service – industrial – tourism,” as well as licenses to market domestic or foreign off-plan properties within the Kingdom, licenses to display domestic or foreign off-plan real estate units at exhibitions within the Kingdom, licenses to sell undeveloped land off-plan, and licenses for off-plan sales of small and medium-sized projects.

The program is the authority legally empowered to issue licenses to engage in the off-plan sale of real estate units in Saudi Arabia, and to issue certificates of registration in the Real Estate Developers Registry for real estate development companies.