The idle lands program, launched by the Saudi Ministry of Housing, announced that dutiable land areas of 1.3 million square meters were fully developed by the land owner in Jeddah.
The development of the land plot, which provides nearly 2,300 residential partitions, comes as part of the program's strategy to eliminate monopolistic practices and contribute to creating a balanced real estate market.
No fees will be charged once the land development is complete, whether with the final approval for its masterplan or its development within one year from the fee imposition date, the program added.
Several dutiable land plots have been recently developed in the target cities. Moreover, through the imposed land fees, idle land owners seek to develop their land or enter into partnerships with the Ministry of Housing to establish housing projects for citizens.
Meanwhile, the proceeds were partly used in developing the infrastructure of several housing projects across the Kingdom as stipulated in the executive regulations of the idle lands program.
According to data compiled by Argaam, the white land fees came into effect on June 8, 2016, in Riyadh, Jeddah, Dammam, and Makkah.
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