The following was released The Off-Plan Sales and Leasing Committee «Wafi» has issued 203 permits for off-plan projects from the beginning of the year through the end of last May, including approximately 55 permits for the sale of off-plan residential projects providing 19,499 units.

The program had approved the completion of five residential projects, as part of the committee’s efforts to boost the real estate supply in the market and raise the homeownership rate to 70 percent by 2030, in line with the targets of the Housing Program—one of the Kingdom’s Vision 2030 initiatives.

In a statement, the committee clarified that the permits issued since the beginning of the year included sales permits for large, medium, and small projects, as well as rental permits and marketing and display permits for off-plan projects both domestically and abroad, noting that it has so far licensed more than 266 residential projects providing approximately 208,000 housing units, with construction work completed on 17 of these projects, In addition, a number of current projects have reached advanced stages of completion and will be delivered on schedule in accordance with the approved timelines.