The Ministry of Housing has called on real estate developers to boost the private sector\u2019s contribution to the ministry\u2019s program through the off-plan sales program (Wafi), and to partner in implementing the first phase of its projects for the year 2017, by participating in a competitive bidding process to design, market, construct, and deliver residential units within multi-story residential buildings on Ministry-owned land.<\/p>\n
The ministry revealed that these projects include the Al-Kharj project, comprising 580 housing units; the Al-Ahsa project, comprising 310 housing units; the Khamis Mushait housing project, comprising 2,802 housing units; as well as the Tabuk Housing Project with 5,357 housing units. To obtain the terms and conditions booklet, a fee of 15,000 riyals must be paid by check made out to the Off-Plan Sales Committee or deposited into Al-Bilad Bank account number (SA65 1500 0999 1154 6579 0001), and submit proof of payment to the Committee\u2019s headquarters at the Ministry of Housing.<\/p>\n
This batch, consisting of 9,049 residential units (apartments), is being offered through an off-plan sales program as the first phase of several phases to be launched during 2017, covering all regions of the Kingdom, as part of the Ministry\u2019s efforts to strengthen its partnership with the private sector through two key pillars: supporting supply and stimulating demand, thereby achieving an optimal balance in the Kingdom\u2019s housing market.
\nIt is worth noting that the Off-Plan Sales Program (Wafi) aims to reduce the costs of owning real estate units, protect buyers\u2019 rights through regulations and procedures, and increase transparency in the real estate market, in addition to fostering and stimulating competition among developers through a (rating) system, and to help increase supply by fostering the development of real estate projects.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>The Ministry of Housing has called on real estate developers to boost the private sector\u2019s contribution to the ministry\u2019s program through the off-plan sales program (Wafi), and to partner in implementing the first phase of its projects for the year 2017, by participating in a competitive bidding process to design, market, construct, and deliver residential units within multi-story residential buildings on Ministry-owned land. The Ministry revealed that these projects include \u2026 Read 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