Seizing 72 violating projects selling off-plan housing without a license

Set the off-plan sale or lease program «Wafi» during the first quarter of this year 72 projects related to the marketing of housing units under construction and the collection of sums to be reserved and purchased without a license to practice the activity. The head of the program committee, Eng. Abdulaziz bin Muhammad Al-Muhaimid, confirmed: The program continues to follow up all off-plan sales projects to monitor and correct violations related to its licensing procedures through 265 monitoring rounds during the first quarter of 2021 on real estate projects around the Kingdom, and during the same period the program licensed 19 residential projects under Construction to sell 17,000 units, and the program also approved the completion of the completion of two residential projects, as part of its efforts to enhance investment in the sector, support supply and protect the rights of beneficiaries through organizing activity, with the aim of raising the percentage of residential ownership to 70% by 2030 in accordance with the objectives of the housing program – one of the Kingdom’s Vision 2030 programs – Al-Muhaimid explained that the program approved the completion of the “Ruba Jeddah” project, which is located in Al-Mayar suburb – one of the major residential suburbs of a residential program – in the governorate of Jeddah on an area exceeding 95 thousand square meters and provides 1248 apartments, as well as the “High Riyadh” project in the city of Riyadh. With an area of ​​13 thousand square meters, it provides 85 apartments, in addition to completing the procedures for delivering real estate units in the Makkah Oasis Development Project in Makkah, which provides 2538 apartments. The off-plan sale licenses issued by the program included 10 licenses to sell projects belonging to the “sakani” program in partnership with the private sector providing 11,802 housing units, 4 licenses to sell housing projects belonging to the private sector to pump 5031 housing units, and 5 licenses to sell small and medium projects under construction, in addition to To the issuance of 6 licenses to market a number of projects internally and externally for 106,000 housing units, and 6 initial approvals whose procedures are being completed in preparation for licensing them, and the license of the main and sub-developer has been approved to implement major housing projects through qualified sub-developers, with the aim of raising the level of governance in real estate projects and stimulating The participation of small and medium enterprises and motivating landowners to develop them in a way that contributes to increasing the supply of units in the real estate market.

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