Majid Al-Hogail, Saudi Minister of Municipal and Rural Affairs and Housing, introduced on Wednesday the brand new zones for white land charges in Riyadh. The transfer goals to manage the property market and promote balanced city growth, consistent with the directives of Crown Prince Mohammed bin Salman.
White Land Price System – 5 Tiers
Underneath the brand new system, annual charges will probably be charged on undeveloped land primarily based on 5 precedence zones:
➤ Precedence Zone 1: 10% of land worth.
➤ Precedence Zone 2: 7.5% of land worth.
➤ Precedence Zone 3: 5% of land worth.
➤ Precedence Zone 4: 2.5% of land worth.
➤ Exterior precedence zones: Exempt from charges however nonetheless included within the proprietor’s whole undeveloped land inside Riyadh.
Key Rules
■ All land makes use of are topic to charges beneath this five-tier system.
■ Solely lands contained in the official city boundary maps are included.
Implementation and Oversight
🔘 A technical committee with licensed appraisers from the Saudi Authority for Accredited Valuers will assess land values and set growth timelines.
🔘 Committee members serve for 3 years, with the choice to resume.
🔘 The ministry will evaluation annually the provision of land and housing models, market exercise, land costs, and any monopolistic practices.
🔘 Based mostly on these evaluations, the ministry can apply, droop, or regulate the white land payment program to suit the town’s city growth wants.
