<At a total cost of more than ten billion riyals, the Ministry of Commerce and Industry, represented by the Off-plan Sales Program, has approved 7493 real estate units, including 6346 apartments and 1147 residential villas, in Jeddah Governorate for the Public Pension Agency's residential retirement project, on a total area estimated at 22,500,000 m. The project is expected to be completed within 60 months. The project is expected to be completed within 45-60 months from the start of implementation. According to the ministry's information, the total value of off-plan sales projects exceeded 27 billion riyals for 26,041 real estate units across the Kingdom, while the number of real estate units licensed since the beginning of the current year 2015 reached 10,479 real estate units with a value of more than 11 billion riyals.

According to the ministry's statistics, the percentage of off-plan sales program projects licensed this year is about 40% of the total projects licensed since the start of the program.

<The Ministry of Commerce and Industry emphasizes on following up on off-plan real estate development projects by conducting field tours to monitor the progress of projects and follow up on implementation. The off-plan sales program is one of the ways of owning a property that allows the buyer to obtain the property at a lower cost, in addition to allowing the real estate developer to obtain direct financing through buyers' payments.