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بوابة الفجر
Housing Minister approves new investment allocation system
The Ministry of Housing announced the adoption of a new system for land allocation mechanisms in the new cities, aiming to enhance transparency and seriousness in the application process. The system includes paying the full purchase price upfront at the time of application as a basic condition to assess the investor's commitment, which reduces speculative trading and unprofitable reselling. It also features electronic procedures for application and selection, innovations such as the "Swift Wallet" for foreign investors, and a variety of allocation mechanisms depending on the type of activity. Additionally, flexible implementation schedules and diverse payment systems are introduced to increase investments and facilitate project execution, thereby supporting urban development.
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