Wafi approved the issuance of 7 licenses for residential projects, and controls 37 projects violates the off-plan sales and marketing systems. | Ministry of Housing

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Tuesday 22 Dhu al-Hijja 1441 on August 11, 2020

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26/1/1439 -on- 16/10/2017Wafi approved the issuance of 7 licenses for residential projects, and controls 37 projects violates the off-plan sales and marketing systems.
The oversight and control teams in the off-plan sale and lease program  "Wafi" 37  violated projects during its inspection tour on a number of private sector projects to verify the application of regulations and controls relating to the organization of the activities of off-plan real estate units in the housing market, and those violations covered 10 cities in the Kingdom over the past six months, the program also approved the licensing of seven off-plan sale projects inside and outside the Kingdom.
 
The Ministry's monitoring rounds are represented by the Wafi program in the framework of the program role to protect the market from the dummy sales and marketing of the projects inside and outside the Kingdom. These projects included Mecca, Riyadh, Jeddah, Al-Ahsa, Khobar and Dammam, as well as Arar, Asir, Medina and Jizan, and 47% of these violations came through citizens' complaints, and 53% of them through monitoring rounds carried out by the program.
The Secretary-General of the off-plan Sale and Leasing Committee, Mohammed bin Saud Al-Ghazwan, stressed the need for the developed real estate companies or marketed to real estate units or exhibitors to meet the requirements of the off-plan sales system and comply with their own regulations and regulations.
 
He added that if any irregularities are found in this regard, the prescribed penalties, which may reach the precautionary seizure of the fixed and movable funds, will be applied and referral to the Public Prosecution to consider instituting a case before the criminal court to apply the appropriate penalty against the violator.
on a related matter, the off-plan sales and leasing committee recently approved the issuance of seven licenses for  the off-plan marketing and sale projects  inside and outside the Kingdom, as the governmental authority empowered in the system of licensing and regulation of the off-plan sales and lease projects  issued by the decision of the Council of Ministers.