{"id":52776,"date":"2022-11-30T10:46:45","date_gmt":"2022-11-30T07:46:45","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=52776"},"modified":"2022-11-30T10:46:45","modified_gmt":"2022-11-30T07:46:45","slug":"%d8%aa%d8%b9%d9%88%d9%8a%d8%b6-%d9%86%d8%b2%d8%b9-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d8%a7%d8%aa","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/52776\/","title":{"rendered":"Directive to increase the compensation value of the expropriated properties by 20% of their assessed market value"},"content":{"rendered":"

Directives have been issued by higher authorities to increase the compensation for expropriated real estate by 20% of its estimated market value; this is in lieu of damages and as compensation for Expropriation.<\/a> <\/span>The guidelines included a provision allowing for compensation in kind; if the compensation consists of undeveloped land, that land will be exempt from undeveloped land fees for a specific period to be determined by the Ministers of Finance and Municipal, Rural, and Housing Affairs.<\/p>\n

Compensation will cover all expropriated properties, as well as properties for which decisions to initiate proceedings have been issued Expropriation Procedures<\/a><\/span> No final decisions have been issued regarding the valuation of such properties, pending the entry into force of the draft regulation on the expropriation of real estate for the public interest and the temporary seizure of property; this does not apply to properties located within major projects, for which special provisions governing expropriation and the determination of compensation have been issued.<\/p>\n

In this context, Musfir bin Khairallah, vice president of the Real Estate Association, emphasized that compensating owners of expropriated properties with an amount equivalent to 20% of the property\u2019s market value, as well as exempting those who received in-kind compensation, such as vacant land, from land fees, will support the real estate market and boost purchasing power.<\/p>\n

Musfir noted that the real estate market may experience a significant recovery in the coming period, especially after buyers whose properties were expropriated were exempted from the real estate transaction tax, as this measure will accelerate the pace of purchases once compensation is received, which will have direct and indirect positive effects on the real estate, contracting, and construction sectors.<\/p>\n

Increase in Compensation for Property Expropriation<\/span><\/h4>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>Higher authorities have issued directives to increase the value of compensation for expropriated properties 20% from their estimated market value, in return for damages and compensation for expropriation. The directives included allowing compensation in kind.<\/p>","protected":false},"author":10,"featured_media":35691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[104],"tags":[],"class_list":["post-52776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-and-regulations"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak 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