Naif Al-Sharif, Secretary-General of the General Secretariat for Off-Plan Sales and Leasing, revealed that “Wafi” projects have exceeded their targets for the first half of this year, emphasizing the importance of concerted efforts among all housing-related sectors to achieve the goals of the Kingdom’s Vision 2030, thereby ensuring stability and adequate housing for Saudi families across all regions of the Kingdom.

“Wafi” clarified that the General Secretariat of the Off-Plan Sales and Leasing Committee issued 260 various licenses for off-plan sales, leasing, and marketing projects during the first half of 2022, covering a total of 62,374 real estate units. This continues Wafi’s role in regulating the off-plan sales and leasing market, enhancing its transparency, and supporting investment to boost the supply of land and residential units,

Specifically, during the first quarter of this year, the committee issued 141 off-plan sales and marketing licenses, totaling 19,596 real estate units, while in the second quarter, the Committee issued 119 licenses for a total of 42,778 units, representing a 118% increase in the number of units compared to the first quarter of this year, as part of ongoing efforts to increase the supply of real estate units across all categories.