Pursuing Stimulating Real Estate Development Relating Activities, Contributing to Reserve Ensued Rights – Oqail Says
MCI Committee for Selling Real Estate Units on the Map, participated in the Housing Forum, recently, organized by the Ministry of Housing and took place, in Riyadh.
It took part also, in the activities of Riyadh Real Estate Exhibit, held on the sidelines of the forum, with a pavilion, representing MCI.
A workshop on selling on the map was held and has been addressed by the Head of the Committee Abdulhakeem bin Ibrahim Al-Oqail, in addition to the member of the committee, representing ministry of housing Eng. Ateeq Al-Ateeq and Member of Majlis Al-Shoura Dr. Fahd Al-Einizi.
The working paper presented by Al-Oqail, highlighted blanket safeguards of selling real estate units on the map, based on the Cabinet decision, covering all real estate related activities and transactions, regardless of the sector, in addition to its latest amendment no.47 dated 04/02/1434, which stipulated obtaining a license, prior to practice any transaction relating to real estate on the map selling, announcing or marketing, from the MCI-formed committee.
The Committee is a concert joint action between MCI and a host of other ministries and governmental bodies, to study applications for obtaining licenses, provided all required needs such as deeds, banks guarantees and feasible studies, are met
Al-Oqail concluded by appreciation of the minister of commerce and industry for providing all support for the committee, to make its job a success.