What Is Meant By A Real Estate Developer?
The real estate developer is the person who takes upon himself the establishment of an entire real estate community in one of the uninhabited areas and is responsible for its complete revival, which adds value to the community as a whole, new job opportunities and enriches the real estate movement within the country.
What Are The Duties Of A Real Estate Developer?
Searching for the land, then buys it for real estate development and prepares it for the construction process.
Forming a team of experts, including engineers, lawyers and architects.
Preparing all legal papers related to real estate development as well as project financing.
What Are The Characteristics Of A Real Estate Developer?
Building strong relationships
The real estate developer must have strong and distinguished relationships in the field of real estate, so he has a network of relationships with engineers, contractors, banks and designers.
The real estate developer, in order to succeed, should be constantly aware of everything that is going on in the market and the permanent needs of the market.
The real estate development always has many branches, and the real estate developer must communicate with all these branches and be familiar with everything.
What Are The Steps To Get Real Estate Developer Qualification Certificate From The Real Estate Developers Services Center “Etmam”?
Send The Application...
Choose the real estate developer qualification service, then choose to create a new application, fill out the required information and attach the files, and then send the application.
Get The Certificate...
After reviewing and studying the application and accepting it , issuing an electronic certificate within a period of time (10 working days).
Requirements To Apply For The Service:
- For institutions:
Commercial Register , and profile.
- For companies:
Commercial Register, memorandum of association, and profile
- For a real estate investment fund:
No objection from the Capital Market Authority.
Attach terms and conditions.
- For an institution or co-operative society:
Commercial Register , memorandum of association and profile.
WAFI Certificate For Off-Plan Sale
What Are The Basic Requirements For Qualifying Real Estate Developers For Off-plan Real Estate Development Projects?
Commercial Register :
A copy of the commercial register for individual establishments or companies with (real estate development, off-plan sales, or construction of buildings) activities, or other related activities that are approved by the Ministry of Commerce.
Chamber of Commerce Membership.
Licensing of Cooperative Societies:
Basic Regulations of Associations Accredited by the Ministry of Human Resources and Social Development.
What Are The Financial Capabilities Necessary To Qualify Real Estate Developers For Off-Plan Real Estate Development Projects?
Financial statements from a certified public accountant:
1- Less than a year, a financial statement is sufficient.
2- More than a year - financial statements for a year.
3- More than two years financial statements for two years.
Credit Report Integrity Certificate:
Issued by a company licensed to provide credit services, and no more than two months have passed since the date of its issuance from the date of submitting the application.
Certificate of Zakat and Income.
What Are The Institutional Capacities And Human Resources Needed To Qualify Real Estate Developers For Off-plan Real Estate Development Projects?
Work Organization Regulation
Certificate of approval of the work organization regulation.
Occupational Safety And Health Administration Regulations
Approved by the authorized person in the facility.
Approved by the establishment.
Certificate Of Passing The Real Estate Development Course For Off-plan Sales
Included in the list of subscribers on the job.