The Ministry of Commerce has renewed the ban on selling off-plan without a license

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The Ministry of Commerce has confirmed its commitment to prevent the sale of any off-plan real estate units unless licensed by the Ministry of Commerce and Industry represented in the off-plan sales program. The Ministry of Commerce had suspended a number of real estate companies at the 6th Jeddah Cityscape 2015 real estate investment and development exhibition for offering and marketing off-plan real estate units without obtaining the necessary licenses for this purpose.

It is worth mentioning that the Ministry has previously warned citizens against buying any unlicensed off-plan real estate units to avoid falling victim to any fraudulent operations, indicating the need for a license from the competent committee in the Ministry, which provides protection for the rights of buyers, stressing in the same context that it will take all legal measures to ensure that the rights of buyers and developers are preserved by referring anyone who practices off-plan sales activities without a license to the Investigation and Prosecution Authority.

The Ministry has previously warned the public against buying any unlicensed off-plan real estate units.