Contributes to increasing the supply of real estate and restricting monopolistic practices.
Development of raw land subject to fees with an area of 345 thousand square meters within the urban area of Jeddah.
The Ministry of Housing's "Idle Lands" program continued to free territories and controlling of monopolistic land practices within the urban area. The program announced the completion of development of 345,685,000 square meters of raw land in Jeddah and is expected to provide over 670 plots after ending the process.
The program clarified that fees are not applied upon the completion of the development of lands is completed by final adopting of the plan or construction within one year from the date of issuance of "payment order " on it, in order to stimulate development and increase the supply of developed land and reduction of the monopolistic practices. Stating that there are many land subjects to fees developed during the last period.
He added: "The application of fees still achieves its objectives through the redevelopment by raw land owners or partnership with the Ministry of Housing to create projects that provide housing units for citizens, and part of a proceeds that were imposed during the last period was pumped to develop infrastructure in a number of housing projects in various regions of the Kingdom as provided for in the Regulations of the "Idle Lands" program.
This comes within the framework of the program's objective to end the monopolistic practices of the land and contribute to the development of a balanced real estate market. The current phase is concerned with the (raw) land under development with an area of ten thousand square meters and more, which falls within the scope announced at the launch of the program.
The "Idle Lands" program is one of the Ministry of Housing programs which have been announced in 2016 and is implemented in the first phase in Riyadh, Jeddah and the capital of Dammam and Makkah. The third session of the program began in Riyadh last Friday, In Jeddah, ending on 22/7 / 1440H, and all the courses details of the related to the cities stated to apply the system can be found by visiting https://lands.housing.sa/ar