Off-plan sales projects are a government initiative launched by the Saudi Ministry of Housing in 2017 (1438 AH) aimed at stimulating the real estate sector and providing diverse housing options. Wafi supervises these projects and sets the disbursement conditions for the real estate developer.

One of the most important conditions set by Wafi to ensure and monitor financial transactions is the supervision of a certified accountant on off-plan sales projects, which is considered a fundamental requirement in this process.

The accounting supervision by a certified public accountant includes several essential tasks to ensure transparency and the integrity of financial transactions, which include:

• Document Review: Auditing all financial documents to ensure their accuracy and correctness.
• Disbursement Approval: Verifying and approving disbursement documents according to the escrow account regulations.
• Unit Sales Tracking: Ensuring the receipt of the financial value and transferring it to the escrow account.
•Periodic Reports: Preparing comprehensive financial reports every three months and submitting them to the relevant authorities upon request.