Saudi Wafi program licenses firms to sell off-plan units in Dubai

Saudi Arabia’s Wafi program, the online platform launched by the housing ministry, has licensed two real estate developers to market off-plan properties in three projects in Dubai, Wafi’s leasing committee said in a statement.

Damac Properties was licensed to sell units in Aykon City and Paramount Tower Hotel & Residences projects. The Jumeirah Gate project was also allowed to sell off-plan units, after the required regulatory procedures were completed by the developer.

Meanwhile, the committee qualified five local real estate firms to develop projects offered by the housing ministry or other off-plan developments under public-private partnerships.  

The Wafi online platform was set up by the Saudi government for granting off-plan sales and leasing, organizing relations between real estate developers and specialists in the sector, registering title deeds, filing complaints, and follow-up services.