DUBAI: A Saudi program to sell or rent new homes that are still under development is gathering pace with the honor of 19 new licenses covering 17,000 units, SPA announced.
Ten of the licenses issued in the Q1 by the “Wafi” program cover the designation of 11,802 units having a place with the “Sakani” program in organization with the private area, said the head of the off-plan deals and lease committee, Abdul Aziz bin Mohammed Al-Muhaymid.
The off-plan deals licenses also contained four licenses to sell private sector residential projects covering 5,031 housing units, he provided.
Saudi Arabia is creating thousands of new homes because of repressed interest in new housing which is also being spurred by the uncontrolled development of the Kingdom’s home loan area.