"Wafi" licenses 500 residential units for small and medium-sized projects off-plan since the beginning of the year

Monday 08 June 2026
momah

The Off-Plan Sales and Leasing Committee “Wafi” issued 18 off-plan sales licenses for small and medium-sized projects for 493 residential units from the beginning of the year until the end of February. This growth represents approximately 50% of the total number of licensed units for 2021, which amounted to 988 units for 41 residential projects.

This was confirmed by the Secretary-General of the Off-Plan Sales and Leasing Committee, Naif bin Nawaf Al-Sharif, who indicated that off-plan sales licenses for small and medium-sized projects achieved a growth of 485% in 2021 compared to 2020. He added that this growth is due to the confidence of small and medium-sized companies in the off-plan sales product and its investment feasibility and the opportunities it creates in the real estate sector.

Al-Sharif pointed out that the total number of units in real estate projects under construction, which are currently supervised by the “Wafi” program, has reached more than 167,000 units within 158 real estate projects. This is an extension of the program’s keenness to preserve the rights of buyers and to follow up on the commitment of real estate developers to the standards and specifications specified in the contracts concluded between the parties of the project through direct supervision of licensed projects and review of their engineering reports.

It is worth mentioning that the “Wafi” program works to stimulate and qualify real estate developers to create distinguished and integrated projects that meet the aspirations of the real estate market, and grants off-plan sales and marketing licenses for all residential, commercial, industrial and other real estate projects, in addition to the off-plan leasing license that was recently launched, to increase the supply of real estate units, enhance investment in the sector and contribute to raising the rate of homeownership for Saudi families.

 

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The Kingdom of Saudi Arabia