The Eastern Chamber, represented by the Real Estate and Urban Development Committee, organized a workshop entitled “Stimulating the real estate development sector for off-plan sales and leasing projects“, with the participation of a number of officials in the off-plan sales and leasing program “Wafi”, at the Chamber's headquarters in Dammam.

During the meeting, the participants stressed that Wafi works to regulate the activity of selling or renting real estate units regardless of their purpose or method of development before, during or after the development and construction phase, noting that there are a number of incentives involved in the sale and leasing activity for the benefit of real estate developers, as well as buyers.

Assistant Secretary-General of the Chamber explained the incentives involved in the sale and leasing activity for the benefit of real estate developers, as well as buyers. The Assistant Secretary General for Technical Affairs at Wafi, Saleh Al-Khamis, explained that the developer gets direct financing from the buyers to carry out construction and building works, and this activity has a number of benefits, most notably raising the level of transparency in the real estate market.

Wafi's assistant secretary general for technical affairs, Saleh Al-Khamis, explained.