Off-plan sales and leasing to be transferred to the General Real Estate Authority by the end of this year

Off-plan sales projects - Real estate transactions

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<The Cabinet approved the transfer of the <a style="color: #800000;" href="https://wafi.housing.gov. from "Ministry of Municipal, Rural Affairs and Housing“ to ”Board of Directors of the Public Authority for Real Estate“, and in light of this, the regulations related to the program were amended; ”Board of Directors of the Public Authority for Real Estate“ will replace the words ”Minister of Municipal, Rural Affairs and Housing“, wherever they appear in the system.

The Council approved the continuation of the Ministry of Municipal, Rural Affairs and Housing from the Ministry of Municipal, Rural Affairs and Housing to the Board of Directors of the Public Authority for Real Estate. The Council approved the continuation of the Ministry and the off-plan sales and leasing committee to exercise their current powers and tasks in accordance with the provisions of Regulations related to the sale or leasing of real estate units on the map, until the date to be agreed upon by the Ministry and the Authority not to exceed the end of 2023.

On the same subject, it was decided that the Ministry and the Authority will form a board of directors of the General Real Estate Authority. It was decided to form a committee at the Ministry of Municipal, Rural Affairs and Housing, with the participation of representatives from the Ministry of Finance, the Ministry of Human Resources and Social Development, the Public Institution for Social Insurance and the General Authority for Real Estate, to develop a mechanism to deal with the assets, staff, allocations, budget, projects, programs and initiatives, if any, upon the transfer of supervision of the aforementioned committee from the Ministry of Municipal, Rural Affairs and Housing to the General Authority for Real Estate and submit the findings to the Supreme Council.

Reporting the findings to the Supreme Council.

Selling or renting off-plan