Riyadh’s Rafal Living gets license to sell off-plan homes

22/08/2016 Argaam

Riyadh-based Rafal Living project has been licensed by Saudi Arabia’s Off-Plan Sales Program to sell apartments at its 300-unit compound, state news agency SPA reported. 

 

The project— valued at SAR 864 million— is about 16 percent complete with delivery scheduled by the fourth quarter of 2017.

 

Earlier this year, the kingdom’s ministry of commerce and industry introduced new rules that allow developers to sell off-plan units, given that such sales follow regulatory requirements.

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