25/04/2022
Gentlemen/ Members of the Chamber
Greetings,
Asharqia Chamber presents you with its best regards and informs you of receiving the letter of the Federation of Saudi Chambers No. (43104185) dated (20/9/1443 AH), regarding the letter of the Ministry of Municipal and Rural Affairs and Housing No. (1/4300707107) and dated (16/9/1443 AH). It contains Administrative Decision No. (4300270271) dated (5/4/1443 AH), regarding approval of marginalization mechanisms on Sukuk following the rules and regulations of the work of the Off-Plan Sale or Leasing Committee in the formula, and what is stated in Article (Seventh), which states that “it is necessary to complete the procedures of mechanisms Marginalization on Sukuk The real estate developer must be registered in the Ministry’s register and hold an approval certificate in one of the approved real estate development activities listed in his commercial register. It is from the principle of cooperation with the private sector to conduct their work, and since the activities of real estate development projects mentioned in the table below are among the activities subject to classification and which require obtaining a classification and accreditation certificate from the Ministry to enter into real estate development projects, according to the National Guide for Economic Activities (ISEC 4).
| no. | Code | Activity name |
| 1 | 681010 | Buying and selling land and real estate and its division and off-plan sales activities. |
| 2 | 681021 | Management and leasing of owned or leased (residential) real estate. |
| 3 | 681022 | Management and leasing of owned or leased (non-residential) real estate. |
| 4 | 410051 | Real estate development of residential buildings using modern construction methods. |
| 5 | 410052 | Real estate development for commercial buildings using modern construction methods. |
Real estate development facilities can obtain a classification certificate by entering the following link: (https://cut.su/g2RKs), and for more information, you can contact the Assistant Undersecretary for the Regulation of Operators, Eng. Faisal bin Hussein Al-Saqar on a mobile number (0555331374) Email (falskar@momrah.gov.sa).
Sincerely yours
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