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Saudi Arabia warns against sale of off-plan housing projects

: Wednesday, April 16 - 2014 @ 00:31

Saudi commerce ministry has warned real estate developers in the kingdom against off-plan sale of housing units to potential buyers unless they get the required licences, Arab News has reported. Citizens and residents were urged not to respond to any promotions or ads related to selling or booking housing units that are still under construction or pieces of lands not yet developed unless the developer presents the required licence from a ministerial committee formed five-years tasked with regulating off-plan sale of housing projects.

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Wednesday, April 16- 2014 @ 0:31 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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