"Wafi" launches drafted the real estate development criteria for public opinion for 15 days. | Ministry of Municipal & Rural Affairs & Housing

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Tuesday 24 Rabia ath-Thani 1443 on November 30, 2021

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27/7/1440 -on- 02/04/2019

"Wafi" launches drafted the real estate development criteria for public opinion for 15 days.

The off-plan sale or rent committee "Wafi" published the draft criteria for rehabilitation of real estate developers to work on off-plan sales projects – partially built units - and put forward to public opinion for 15 days from the date of publication before the adoption of work.

The committee called on all the relevant parties (real estate developers, all people interested in real estate sector and its regulations, etc.) to share their views on the items and paragraphs included in the draft qualification criteria. These standards will be applied after putting the matter and finally approved by all developers wishing to engage in activity. After taking into consideration the views and theses of the relevant parties by discussing and scrutinize them, to reach an updated final version contribute to the continuity of development of the housing sector and real estate in the Kingdom in a balanced manner
The committee pointed out that the public opinion is aimed at giving developers and interested people the opportunity to express their views so that the committee can finalize a version in harmony with the requirements of all parties to the project, stressing their constant endeavor to avoid the restrictions required by the off-plan sale or rent of real estate units  issued by the Council of Ministers NO.(536) and dated 04/12/1437 AH.
The Committee pointed out that the draft standards submitted to the public opinion have been amended in accordance with the changes studied and that the work is still in progress in its previous terms, and it welcomes all the proposals submitted by the specialists throughout the year and its keenness to develop all the regular items in accordance with the public interest and contribute to upgrading the real estate development system of sale on the map, noting that access to the draft qualification criteria available through the website of the "Wafi" program via the link (https://wafi.housing.sa/ar/content/834 ).

 The off-plan sale or rent program "Wafi" grants licenses to sell and rent real estate units (on the map) of all types (residential - commercial - investment - office - service - industrial - tourist), the license of marketing of foreign real estate (on the map), As well as the license to display the real estate units (on the map) in external exhibitions, as most recently recognized the approved of licensing rules for small and medium enterprises.