Logo of The Idle Lands
The Idle Lands Program registered four land plots spanning more than 2.3 million square meters (sqm) in Riyadh and Dammam.
In a statement, the program said the land plots were monitored to ensure that they were not registered in the first phase, which covered undeveloped raw lands with a minimum area of 10,000 sqm and located within the scope of cities where the system was applied.
The owners of the plots that are monitored and registered by the program -- and not by the owners – will be fined for not registering their land, the statement said, adding that the fees will be imposed retroactively.
The program aims to enhance the supply of lands and contribute to creating a balanced real estate market.
Many land plots -- subject to fees -- have been developed during the past period in the targeted cities, as the fees achieves their objectives through the interaction of raw lands’ owners to develop them.
In addition, a part of the revenue imposed during the last period was spent on developing the infrastructure in a number of housing projects in all regions of the Kingdom, as stipulated by the executive regulations of the Idle Lands Program.
The program emphasized that the fee is not applied upon completion of the land development by definitively approving the scheme or building it within a year from the payment order’s date (the invoice), with the aim of stimulating development and boosting the supply of developed lands and achieving balance in the sector for the benefit of citizens.
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