The above mentioned committee ends its participation in the “Housing 3” exhibition held in Nayyara Hall in Riyadh during the period March 17- 19/ 2014 , where the said committee met with a number of real estate developers and explained the mechanisms of submitting the application and what documents are required to get a license. A number of those concerned with real estate and who want to own a property visited the Ministry`s site at the exhibition, and a presentation was made to them about the advantages of the program, and that the most important one is the follow-up by the Ministry for the projects that have got licenses through the periodic reports prepared and sent by the real estate developer, the engineering consultant and the chartered accountant for the Ministry, as well as through the field visits done by the Secretariat of the above mentioned committee`s staff, in addition to giving explanation about the escrow account, and this account is assigned to each project where the amounts of buyers are deposited and not allowed to spend any of them except for the specific project and with a direct follow-up of the Ministry and according to the progress of the project.
It is worth mentioning that the Committee for selling real estate units on the map has set up a special section means to communicate with the developers and to facilitate the procedures for obtaining the license, as well as to follow up the progress of the project to ensure the completion of the projects within the specified time set in advance, as well as dedicated Account Managers have been assigned for each project to be a liaison between the said Committee and the developer .
For more details about the program of selling real estate units on the map, you can visit the website of the said Committee:
re.mci.gov.sa