5 thousand square meters for licensing small projects on the map and 10 thousand for medium projects

The committee of selling or renting real estate units on the map approved the rules for licensing small or medium enterprises, and according to the controls, the small project does not exceed an area of ​​5 thousand square meters, and the medium project ranges from 5 thousand to 10 thousand square meters. These rules aim to set the minimum requirements and requirements for small or medium enterprises to obtain a license to practice activity, to stimulate real estate development companies in developing governorates and urban areas centers, to stimulate small and medium enterprises to invest in real estate development, and to reduce the costs of real estate development projects for off-plan sales activity. . The rules stipulate that the developer is not entitled to obtain more than one license for a small or medium project at the same time, except after the completion of the licensed project, and an exception to this is for the committee to issue more than one license for small and medium projects for one developer when it deems it appropriate. The controls required the project developer to hold a bank account, collect monthly payments and provide the committee with the real estate unit contract within 10 working days, in addition to buyers’ data and methods of communicating with them, and keeping all documents for a period of no less than 10 years.

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