Idle land fees revenues to support housing projects: Housing Ministry

The Ministry of Municipal, Rural Affairs and Housing headquarter

The Ministry of Municipal and Rural Affairs & Housing stated that the recently amended Idle Land Fees Law contributes to increasing real estate supply. This to achieve market balance, improve the effectiveness of using idle assets, and foster fair competition.

The ministry clarified that the new law comprises 15 articles, covering key definitions and details related to annual fees on idle lands and vacant properties. It grants the ministry the authority to determine the scope of implementation and the land areas subject to the fees, provided that the area of an individual plot or the total area of plots included is not less than 5,000 square meters (sqm), in accordance with the regulations.

According to the Saudi Press Agency (SPA), the ministry affirmed that the fees implementation will rely on precise and centralized databases to ensure transparency and fairness. It noted that the fees revenues will be directed to support housing projects, in alignment with the law’s objectives of enhancing urban sustainability and limiting monopolistic practices.