"Wafi" records a 126% growth in the number of real estate units licensed for off-plan sale for the year 2021

Monday 08 June 2026
momah

The number of residential units licensed by the off-plan sales or leasing program “Wafi” recorded a record growth rate of more than 126% during the past year 2021 compared to the year 2020, reaching more than 37,000 diverse residential units through 55 licenses for off-plan sales projects.

This comes as an extension of the program’s efforts to enhance the supply of residential real estate in the market to raise the rate of residential ownership to 70% by 2030, in accordance with the objectives of the Housing Program – one of the programs of the Kingdom’s Vision 2030.

The Secretary-General of the Off-Plan Sales and Leasing Committee, Naif Nawaf Al-Sharif, explained that the off-plan sales licenses for small and medium projects during the year 2021 amounted to 48 licenses, which included making available 1,311 new housing units in all cities and regions of the Kingdom, with a growth rate that exceeded 786% compared to the year 2020, which witnessed the issuance of 7 licenses to provide 148 housing units.

During the past year 2021, the off-plan sales and leasing program “Wafi” issued about 57 licenses to market more than 231,000 housing units under construction, distributed across a number of off-plan sales projects in cities and regions of the Kingdom, recording a growth rate in the number of units of about 8% compared to the number of licensed units during the year 2020, which amounted to 214,000 housing units.

The Secretary-General stated that the total number of housing units within the projects completed during the past year exceeded 3,000 diverse units in 17 projects, achieving a growth rate for the projects that exceeded 466% compared to the year 2020, which witnessed the completion of 3 projects that provided 1,564 housing units under the off-plan sales system.

The “Wafi” program issued more than 285 licenses to qualify real estate developers to implement off-plan sales projects, with a growth rate of 136% compared to 2020, which recorded 121 licenses to qualify real estate developers in the sector, with the aim of increasing the supply of residential real estate with high-quality units at an appropriate price and providing a quality of life for Saudi families.

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 residential units within 158 residential 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.

“Wafi” also works to stimulate and qualify real estate developers to create distinguished and integrated projects that meet the aspirations of the real estate market. The program grants off-plan sales licenses for all residential, commercial, industrial and other real estate projects, to enhance the increase in the supply of real estate units and promote investment in the sector, in addition to contributing to increasing the rate of homeownership for Saudi families to 70% by the year 2030 in line with the objectives of the Housing Program - one of the programs of the Kingdom’s Vision 2030 -.

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The Kingdom of Saudi Arabia