Housing: 61 projects that violate the controls of selling off-plan units were identified

The off-plan sale program “Wafi” of the Ministry of Housing said: The control and control teams monitored 61 violating projects during the year 2020, and the program explained that the most prominent violations that were detected related to not obtaining licenses from the program for marketing housing units and promoting them through media platforms and means, And receiving sums of money as payments to buy without obtaining a license to do so, in addition to other violations that are not obtaining licenses to sell units and sign contracts with buyers, and the program emphasized the need for citizens to make sure that the program’s license is available before purchasing housing units under construction or handing over payments of financial amounts for purchase Or seizure in order to avoid potential risks and preserve their rights, and he indicated continuing to follow up all off-plan sales projects to monitor and correct violations related to its licensing procedures, indicating that in the event that the violations are not corrected, the prescribed penalties are applied, including raising to the competent authorities to impose a precautionary seizure on the fixed and movable funds obtained without a license And apply the appropriate punishment against them.

According to the program, the number of housing projects that it supervises in the housing market until last year reached more than 120 projects, providing more than 160,000 housing units under construction, with a total value of 115 billion riyals, while the program issued licenses for more than 30,000 housing units from Off-plan sales products of the private sector during 2019, and the units were distributed in housing projects that are being developed with the off-plan sales system, as part of the program’s contribution to reducing the costs of owning real estate units, characterized by high quality, preserving the rights of buyers, and raising the level of transparency in the real estate market by organizing the contractual relationship between Buyers of real estate units in under construction projects and the real estate developers implementing them, and a statement of obligations, and the rights of all parties.

About the author

Leave a Reply

Your email address will not be published. Required fields are marked *