The Ministry of Housing's "Units subdivision" Program has provided the possibility of issuing a "building management document" for large multi-use real estate projects with common facilities such as towers, gated residential or commercial complexes, to ensure fair distribution of common facilities when sorting the real estate project in order to sell its units.
This service enables the owners of units in real estate complexes with multi-use common facilities to be able to access all the details and the consequent obligations and the rights of the joint facilities in these complexes with all their residential and commercial uses.
Mr. Mazin bin Mohammed Al-Daoud, General Supervisor of Real Estate Regulatory Affairs at the Ministry of Housing, said that this property will enable those wishing to own large residential or commercial projects to make their decisions properly and to ensure that they are not exposed to the lack of information about the real estate units they want to purchase. After implementing the new steps taken by the Ministry of Housing to enable access to the "building management document", which will ensure the distribution of units rights to the joint ownership, and this will preserve these rights and reducing violations.
This comes as a result of the Ministry of Housing's efforts to find a number of regulatory solutions in the real estate market. It provides the beneficiaries with a great deal of transparency and clarity in assessing the obligations and rights of the common areas. This enables them to own large complexes readily and easily within the framework of programs provided by the Ministry to regulate the real estate sector.
The "Units subdivision " pre-qualified more than 540 engineers and surveyors in different regions of the Kingdom through the authorized engineering offices to provide sorting services and the division of real estate units, to facilitate the service and speed up the application, where it takes no more than 5 working days to issue a screening report and then is transmitted electronically to the Ministry of Justice to issue the separate instrument of the unit. The " Units subdivision " service enables those who wish to issue independent sukuk to the real estate units by submitting the application electronically through the e-platform subdivision.housing.sa .