"Shrakat" offers many incentives and privileges to encourage developers by facilitating procedures and creating a flexible mechanism to implement project plans and creating a stimulating environment for developers and government to provide more housing units to the citizens.

OVERALL INCENTIVES

Key Benefits To Developers

Reduce the cost of land

The Ministry of Housing will provide subsidized land and / or free land based on the type of project proposed by the developers, with the aim of supporting and strengthening the housing sector by offering these lands at suitable prices.

Interest-free financing

The Ministry will provide interest-free financing to qualified developers to support the development costs they have put forward to start construction work.

Increase In FAR

The ministry will allow developers to develop denser residential units, wherever appropriate, by increasing the built-up area factor.

Reduce the time to obtain permits and licenses

The Ministry of Housing will provide its support in obtaining all necessary legal permits, approvals and licenses as soon as possible so that developers can invest their time in the development of residential units.

Off plan sales services & assistance

The Ministry will organize the sale of residential units before or during the development or construction phase through the implementation of the Wafi program so that developers can obtain internal financing as appropriate. In addition, the ministry will provide many other services such as SHS database and customer service center.

Promise – Guarantee to purchase the unsold housing units

The Ministry of Housing will provide its promise to purchase unsold housing units which is considered one the incentives. Purchase of unsold units on private land is subject to the terms and conditions stipulated.

  • INCENTIVES ON MOH LANDS

    Incentive by project type

    • Grant construction exceptions (FAR)

       

    • Supporting infrastructure financing

       

    • Guarantee of conditional purchase

       

    • Interest free loan (does not exceed 20%)

       

  • INCENTIVES ON PRIVATE LANDS

    Incentive by project type

    • Supporting infrastructure financing

       

    • Interest free loan (does not exceed 20%)

       

    • Grant construction exceptions

       

    • Marketing and selling to non- MOH beneficiaries

       

    • Promise of conditional purchase