The off-plan sale or rent program "Wafi "of the Ministry of Housing granted 6 foreign marketing licenses to the UAE and Turkish companies to promote their products during the Restatex (Cityscape2017) Exhibition, which is currently held at the Riyadh International Convention and Exhibition Center and will last until September 30.
Wafi's participation in the (Cityscape2017) exhibition will introduce the program and its services to the buyers and developers, as well as answering the visitors enquires and companies, clarify the requirements of Wafi licenses for companies, and receive applications for licensing the off-plan real estate units in all categories.
The Secretary-General of the off-plan sale or rent committee, Mr. Mohammed bin Saud Al-Ghazwani, clarify that the program is keen to participate effectively in such events, and follow-up of real estate and latest developments to promote the housing market in the Kingdom, and provide adequate real estate units with suitable prices.Al-Ghazwani pointed out that all parties participating in the exhibition should obtain the required licenses from "Wafi" before display or promote any properties inside the exhibition. He added that the control teams of "Wafi" will be present during the exhibition days to carry out inspection tours. The rules and regulations will have applied to violators of off-plan sale or rent regulations or marketing.
Al-Ghazzwani stressed the need to make sure that citizens who want to buy off-plan real estate units is important from their side to obtain the licenses by "Wafi", stressing that the license of the marketing of foreign real estate off-plan prohibited the developer or his broker from selling and signing contracts and receipt of the cash of buyers within the Kingdom. This will be done in the country of the respective property in order to preserve buyers' rights from fictitious sales.