Idle lands Program issues fee invoices for second phase in Riyadh tomorrow

14/08/2022 Argaam

Logo of Idle Lands Program

The Idle Lands Program announced the issuance of invoices for undeveloped land fees for the year 1444/1445 AH for the second round in phase two in Riyadh tomorrow, Aug. 15.

 

The program also urged landowners to develop their lands or pay the fees within one year of the decision.

 

This comes within the efforts aimed to boost supply in real estate market and curb monopoly.

 

Failure to pay the invoices within the set deadline will entail a fine that reach up to 100% of the fee value, in addition to the original fees, the program stated.

 

The idle land tax regulations have three phases. First, undeveloped lands plots with an area of 10,000 square meters (sqm) or more, within the scope specified by the ministry. Second, lands plots with an area of 10,000 sqm or more, and those developed for a single owner with an area of 10,000 sqm or more in one scheme within the ministry’s specified scope. Third, developed land plots with an area of 5,000 sqm or more, and those developed for one owner with an area of 10,000 sqm or more in one city within the ministry’s specified scope.

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