Riyadh's 71M sqm land enters market post-fee rollout
The Ministry of Municipal and Rural Affairs and Housing revealed that approximately 71 million square meters of vacant land in the Riyadh region have entered development or trading phases. Of these, 29 million square meters are fully developed, 20 million square meters are currently active in the real estate market, and development continues on 21 million square meters. Revenue from the white land fee has supported 27 developmental and service projects aimed at enhancing infrastructure and accommodating urban growth, with over 60,000 invoices issued this year. The ministry’s goal with these measures is to regulate the real estate market and stimulate development in line with the objectives of Saudi Arabia’s Vision 2030.
Notice: This Is an AI-Generated Summary
Comments (0)