Wafi program requires marginalizing land deed for licensing off-plan land sale

18/01/2022 Argaam

Logo of Off-plan Sales or Rent Program (Wafi)

Off-plan Sales or Rent Program (Wafi) announced amending the requirements for licensing the off-plan sale of raw land plots, through marginalizing the land deed instead of providing a financial guarantee or certified check, Saudi Press Agency reported.

 

Nayef Al-Sharif, Secretary General of the Off-Plan Sale or Leasing Committee, said the decision came to facilitate the procedures for obtaining a license for off-plan sale of raw lands through marginalizing the project's land deed as one of the guarantees provided by the project developer instead of the financial guarantee estimated at 20% of the project cost.

 

The move will contribute to accelerating the land development procedures amid the increase in supply of real estate units, he added.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read