Minister of Municipalities and Housing Majid Al-Hogail and Chairman of the Real Estate General Authority (REGA) approved the technical guide for handling delayed and stalled real estate off-plan projects.
According to Umm Al-Qura official gazette, a project is deemed delayed in case it falls behind the schedule.
The delay is defined according to the schedule performance index (SPI).
Delay | SPI
|
Mild | From 0.90 to 0.99
|
Medium | From 0.80 to 0.89
|
Severe | Less than 0.79
|