Sell off plan under Wafi and draw from the escrow account

Register the development and apply for the off-plan licence with everything the programme asks for: clear title to the land, the approved design and the building permit, an appointed contractor and engineering consultant who both hold current classification, the technical and financial study, and the escrow arrangement with an accredited bank. Record the licence number and its validity against the project.

Яагаад: Marketing or taking a deposit before the licence is issued is unlicensed selling, not an early start, and it is the one irregularity a buyer can point at years later to unwind their contract. The licence conditions also fix who certifies progress for the rest of the project, so the appointments made here decide who signs the drawdown every month.

Build the project cost plan the escrow will be drawn against: construction by element, consultancy, authority and utility charges, marketing and the finance cost, each with the month it is expected to fall in. Keep the construction section reconciled to the contract sum so a certified percentage of work maps onto a figure without a second calculation.

Яагаад: The escrow releases against progress on a budget it already holds, so a cost plan that does not match the contract turns every drawdown into a reconciliation exercise with the bank. The expenditure curve is also the thing that tells you, months in advance, whether sales are running ahead of construction or behind it, which is the question the whole regime exists to answer.

Sell only against the licensed unit schedule, and take every instalment into the project escrow account rather than into a company account, including the reservation amount. Keep the ledger by unit and by buyer so the balance held can be read against the units sold at any moment, and keep the developer's own contribution as its own line.

Яагаад: The account is dedicated to this project by law, which is what protects a buyer from the developer's other troubles, and money that passed through a company account first has left that protection whatever happens next. A ledger kept by unit is also the only way to answer a cancellation quickly, because a refund is calculated on what that buyer actually paid in.

Measure what was actually built in the period against the cost plan, element by element, and have the appointed engineering consultant certify the completion percentage in a progress report with photographs and the measured backup behind it. Show the period movement and the cumulative figure separately.

Яагаад: The percentage in that report is the only number that moves money out of the account, so a report written from a site walk rather than from measurement is a cash flow forecast built on an opinion. Showing the movement apart from the cumulative figure is what lets the bank check the month in minutes instead of recalculating the whole project.

Lodge the release request with the certified percentage, the contractor's invoice for the same period and the supporting measurement, and take out only what that certification supports. Record what was released, what remains held and the portion the regime keeps back until the units are handed over.

Яагаад: The escrow agent is checking the request against the certificate, not against the developer's payment run, so a request that runs ahead of the certified work is refused and delays the money that was actually earned along with it. Reading the held balance every month is also the earliest warning that sales money is being consumed faster than the building is rising.

File the periodic report the licence requires: physical progress against the programme, units sold, amounts received and released, and any change to the appointed contractor or consultant. Keep each filing with the period it covers and put the next date under a reminder.

Яагаад: The licence is a continuing permission rather than a one-off approval, and the reporting is how it stays alive. A development that stops reporting is a development the regulator will look at, and the sanction that hurts is a suspension of further sales, which stops the inflow while the construction obligations carry on unchanged.

Take the completion and occupancy documents, clear the snag list per unit, hand over against a signed record for each buyer and register the title in their name. Only then release the retained balance and ask the escrow agent to close the account, with the final statement kept in the project file.

Яагаад: The held-back portion is the buyers' last piece of leverage and the developer's last incentive to finish properly, so releasing it before the handovers are documented removes both at once. A closing statement that reconciles every riyal received against every riyal released is also what answers a complaint about this project three years from now, when nobody involved is still at the company.