Raw Lands
The Idle Lands Program said that more than 20 million square meters (sqm) of developed lands in Riyadh, which were counted by the program but not registered by its owners, will be registered within 20 days.
The program expected that about 60,000 plots of land with an average area of 350 sqm will be available. A single land plot may include more than one housing unit, or plots of larger areas that include more batches of housing units in vertical construction. This could supply thousands of housing units to the market.
During its participation in the Maskan Real Estate Exhibition, the program explained that Riyadh had the largest contribution to undeveloped lands registered in the program, compared to other cities. The program registered about 100 million square meters of land that is under development or in process of fee collection.
On the other hand, if the registration deadline for the second phase in Riyadh expires on June 15, the lands allocated by the program will be registered. In addition, a non-registration violation of up to 100% of the fee value will be applied, and an invoice of the land fee will be issued.
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