- RIYADH: The Commerce Ministry has warned licensed companies against using its logo to promote the selling of real estate projects on the map, Al-Riyadh newspaper reported Wednesday.
It said the ministry also urged these companies to ask buyers to pay through authenticated checks and make deposits in accounts.
Undersecretary for Domestic Trade Hassan bin Fadl Akeel, who is also the chairman of the committee to sell real estate units on the map, said the ministry made the order after noticing advertisements in local newspapers by real estate companies using its logo.
“This is against the rules and regulations. Real estate companies should not use the logo of the ministry in any of its promotional advertisements,” he said.
The undersecretary advised the selling companies to only use the license number and the number of the guarantee account in their advertisements.
He also asked interested buyers to ascertain the licensed project from the ministry lest their funds be used for other purposes.
