Off-plan sale or lease program defines mechanisms for delivery of real estate units

Off-plan sales projects - Real estate transactions

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The “Wafi” off-plan sales and leasing program has established specific mechanisms for the delivery of real estate units for off-plan sales projects, whether they are projects of the Ministry of Municipal, Rural Affairs, and Housing—represented by the Housing Program—or private sector projects, the handover process begins with the buyer’s inspection of the real estate unit and concludes with the final handover of the unit after verifying its quality, the absence of structural defects, and the completion of services, in line with the program’s commitment to safeguarding the rights of all parties involved, whether beneficiaries or project developers.

The “Wafi” Program clarified on its Twitter account that the project developer is responsible for notifying the beneficiary when the unit is ready for handover, so they can inspect the unit and verify that it meets all specifications and conditions agreed upon in the approved sales contract. This allows for the documentation of any observations regarding construction quality, finishing specifications, and the provision of all public utilities to the unit, so that the beneficiary can then make full use of them upon final acceptance, provided that the developer sets a reasonable timeframe to address any observations, if any, prior to the final acceptance of the unit.

“Wafi” clarified that after all observations—if any—have been addressed – regarding the unit, the beneficiary will be notified by the developer that their residential unit is ready for final handover and to sign the handover report for the unit and its accessories.

It should be noted that the procedures for the various stages of handover were established to safeguard the rights of all parties involved in off-plan real estate projects, as these projects involve numerous details and specifications that require all necessary legal measures to be taken.