White land fees promote transparency and development
The article explains the importance of implementing the White Land Tax system in Saudi Arabia to encourage the development of unutilized lands within cities. This is achieved by linking the transfer of ownership to the payment of the due fees. The system aims to reduce instances where land is held without being developed or used economically, which hampers urban growth, leads to rising housing prices, and distorts the urban landscape. This measure seeks to improve the real estate market by incentivizing landowners to develop or sell their lands after settling their financial obligations. Such action promotes asset mobility and stimulates urban and economic development, while maintaining a balance between individual rights and the community's interests. In short, the system aims to close loopholes in the real estate market and achieve sustainable growth that benefits cities and the national economy.
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