Vacant property fees may rise to 10% annually: Report

Riyadh city

The regulations on vacant property and idle land fees, which are set to be issued soon, may include raising the annual fees on vacant properties from 5% to 10%, Al Eqtisadiah newspaper reported, citing an informed source.

The Ministry of Municipal and Rural Affairs and Housing will issue detailed regulations outlining fair application mechanisms, anti-evasion procedures, and criteria for deeming a property vacant.

In April, the Cabinet approved amending the idle land fees regulations, Argaam earlier reported.

Majid Al-Hogail, Minister of Municipal and Rural Affairs and Housing, said work is underway to issue the regulation’s executive bylaws within 90 days from the date of publication in the official gazette.