Wafi program oversees 162 projects with SAR 119 bln worth of realty units

Ministry of Municipal & Rural Affairs & Housing’s spokesman Saif bin Salem Al-Suwailem

Off-plan Sales or Rent Program (Wafi) currently oversees 162 projects, said Ministry of Municipal, Rural Affairs and Housing’s spokesman Saif Al-Suwailem.

The projects include over 170,800 real estate units with a sales value of SAR 119 billion, he told Al-Eqtisadiah newspaper.

According to data compiled by Argaam, Wafi program grants licenses for off-plan sale and rental of real estate units of various types (residential, commercial, investment, office, service, industrial and tourism).

The program also issues licenses for off-plan sales of SMEs, market off-plan internal and external real estate units, display off-plan internal and external property units, sell raw land on the map and other licenses related to the activity.