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زاد الاردن
White Fees Boost Southern Saudi Urban Growth
The policy of imposing fees on unused land in the Asir region of Saudi Arabia has been highly successful in driving real estate development and increasing housing supply. A total of 7 million square meters have been allocated for development, including 1.5 million square meters completed and 5.5 million square meters in the construction phases. Revenues from these fees have supported 17 developmental projects and helped balance supply and demand in the real estate market. Additionally, transparency has been enhanced through procedures for documenting property transactions. The success is expected to expand to encompass over 279 million square meters across various regions, bolstering the performance of the real estate market, alleviating price hikes, and creating a competitive housing environment that supports economic growth in the kingdom.
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