Minister of Municipalities and Housing Majid bin Abdullah Al-Haqeel revealed the map of the new geographical ranges of white land fees in the city of Riyadh, within the framework of regulating the real estate market and stimulating balanced urban development.
Minister Majid Al-Haqeel made the announcement via the “X” platform.
The announcement was made by Minister Majid Al Haqeel via the "X" platform, stressing that this step comes in implementation of the directives of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and an extension of the wise leadership's interest in all that serves the interest of the citizen and resident.
Haqeel explained that the new geographical ranges of white land feesin Riyadh city. Al-Haqeel explained that defining these ranges will give owners and developers greater opportunities for investment and development, contributing to raising the real estate supply and achieving the required balance in the sector.
Slabs of prescribed fees
First tranche (top priority): Annual fee of 10% of the land value.
Tier II (high priority): Annual fee of 7.5% of land value.
Third tranche (medium priority): Annual fee of 5% of land value.
Fourth tranche (low priority): Annual fee of 2.5% of land value.
Fifth tranche (non-priority): No annual fee is charged, and only counts towards the total land owned by the owner within the city.
