Wafi grants off-plan sales licence to PIF's ROSHN

The licence will enable ROSHN to sell off-plan 3,055 units of its SEDRA residential community

  
Image used for illustrative purpose. The view of Riyadh horizon during a cloudy day.

Image used for illustrative purpose. The view of Riyadh horizon during a cloudy day.

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Riyadh – Mubasher: Saudi Arabia's Wafi off-plan sales and rent program has granted ROSHN, a real estate firm owned by the Public Investment Fund (PIF), a licence to start the off-plan sale of its first residential project, SEDRA in Riyadh, the Saudi Press Agency (SPA) reported.

The licence will enable ROSHN to sell off-plan 3,055 units of its SEDRA residential community as part of the first phase of the project which will include more than 30,000 units spread over an area of 20 million square metres (sqm).

The partnership between the Ministry of Municipal, Rural Affairs and Housing and the private sector has contributed to establishing a large number of residential units which will help achieve the objectives of the Saudi housing program aiming at increasing the percentage of Saudi families owning houses to 70% by 2030, Head of the off-plan sales and rent committee, Abdul Aziz bin Mohammed Al-Muhaymid, said.

Source: Mubasher

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