Off-Plan Sales (Wafi): What to Know Before You Buy
Monnara team · 3 min read
"Off-plan sale" means buying a unit in a project that is still under construction before it is completed, regulated by the Wafi program of the Real Estate General Authority to protect the buyer.
The core protection: funds for licensed off-plan projects are managed through an escrow account and are released only in line with construction progress. Before buying, verify: the project's Wafi licence, the developer's details, the unit's specifications, and the delivery schedule.
Beware: any off-plan project without a Wafi licence is in violation — do not pay into it. Read the reservation or sale contract carefully (specifications, delay penalties, handover mechanism).
Source: Real Estate General Authority — Wafi program, rega.gov.sa