Saudi off-plan sales to exceed SAR 70 bln: official

09/06/2019 Argaam

 

The estimated value of off-plan sales in the Saudi housing sector will exceed SAR 70 billion when units are sold out, Al-Eqtisadiah newspaper reported, citing the ministry’s spokesperson Saif Al-Swailem.

 

Saudi Arabia's Ministry of Housing is working in partnership with 65 local and foreign developers on various residential projects.

 

A total of 12 licenses have been issued by the off-plan sales program (Wafi) year to date, while total licenses has reached 60 since 2017, Al-Swailem added.

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