More than 18 thousand Real Estate Units, Valued more than SR 20 billion, are under the Supervision of MCI
A team from the Ministry of Commerce and Industry, representing the program of selling real estate units on the map, had paid a visit, at the end of last week, to a number of real estate developing projects in Jeddah. There are (13.043) real estate units, valued more than SR (14.690.000.000). MCI team aims to assess and evaluate the developing and construction process and the percentage achieved or completed, and to have discussion about related topics with the real estate developers.
MCI team visit included supervising the projects of "Square Urbanization" and "Bab Jeddah", belonging to Middle East Urbanization Co., also paying a visit to "Golden Tower" belonging to Golden Tower Company, as well as “Lamar Towers" belonging to Lamar Co. for investment and Real Estate Development.
The team`s visit also included the project of "Farsi 7" belonging to the company of Zaki Mohammed Farsi, also the project of "Residential Suburb in Salman Gulf" belonging to Jeddah company for Real Estate Development, as well as visiting "Al Fareedah Housing Project" belonging to Iwan World Co., and the project of "Headquarter" belonging to Adeem National Company.
MCI aims through these rounds to follow-up and review the completion phases of real estate projects, and to discuss the latest issues of such projects with the real estate developers, as well as to review the periodic reports issued by the chartered accountant and the engineering consultant accredited by MCI selling on the map program, in addition to support and facilitate the procedures of real estate developers, which may contribute to the completion of their projects in time and according to the requested specifications.
It is worth mentioning that the projects supervised by the Ministry include more than 18 thousand real estate units in various regions of the Kingdom, valued SR 20 billion. These units included villas, apartments, office units, commercial units and land development.
Notably, the real estate program is giving licenses to sell real estate units on the map, whatever the purpose is, also selling undeveloped lands on the map, as well as marketing real estate on the map inside and outside the Kingdom and displaying real estate units, to be sold on the map, in the exhibitions.
MCI would like to invite the public and those interested in getting an idea about the conditions and requirements of selling real estate on the map to access MCI website through the link: re.mci.gov.sa