Off-plan
على الخارطةBuying a unit before it is built and paying in instalments as construction reaches agreed stages. Off-plan sales in Saudi Arabia must be licensed under the Wafi programme, and your payments should go only into the project’s escrow account. Ask for the Wafi licence number before the first payment.
Looking this up because you mean to buy? Your next question is What will it cost?
Where you meet it
- Check the Wafi licence and escrowVerify before you pay
- Buying off-plan through WafiHow a non-Saudi can own near the Haram
- Two routes for a buyer abroadHow to buy a property in Makkah or Madinah, step by step
- Paying for property in Makkah or Madinah
- MadinahProjects open to buyers from abroad
- Real Estate Transaction TaxWhat it costs to buy in Makkah and Madinah
- Wafi
Related words
- Wafi
- The programme that licenses off-plan sales in Saudi Arabia.
Sources
REGA — Wafi off-plan sales and lease platform
A Wafi off-plan licence requires an escrow account agreement between the developer and a licensed bank in the Kingdom, and a developer that takes reservation amounts during marketing must deposit all of them into that escrow account.
Where each fact above comes from, with the source’s own date where it gives one.