"Idle Lands": 39% of the developed and invoiced land areas in Riyadh entered into circulation during the year 1444 H.

Idle Lands Program revealed that 39% of the developed lands subject to fees and invoicing entered into circulation during the first cycle of the second phase in Riyadh in 1444 H. These lands exceeded an area of 7.5 million square meters, which is expected to provide at least 12,000 residential and commercial units.

The Program, in a press statement, explained that its efforts to increase the supply of developed lands have contributed to achieving a balance between supply and demand, providing affordable residential lands, and reducing monopolistic practices in land ownership. The program added that more than 2,000 land plots were then included in trading, buying, and selling in the real estate market, in preparation for their inclusion in the real estate supply or their development. This happened between the first and second invoicing cycles of the second phase in Riyadh. In the second cycle, more than 4,000 invoices were issued for areas totaling 19 million square meters. The program called on landowners subject to fees to initiate the development of their lands or make the payment within one year from the date of the issuance of the decision.

The Program renewed its call for landowners to take advantage of the support mechanisms provided by MOMRAH, such as Itmam Center and the Ministry Agency for Housing Supply Stimulus and Real Estate Development. This is to accelerate the pace of developing idle lands while considering the development obstacles that some owners may face, in line with the city's strategic direction and urban development.

It should be noted that the Implementing Regulations of the Idle Lands Fee Law include three stages of fee implementation. The first stage includes undeveloped lands with an area of 10,000 square meters or more within the ministry's designated scope. The second stage includes developed lands with an area of 10,000 square meters or more, as well as the total developed lands of a single owner with an area of 10,000 square meters or more in a designated urban area. The third stage includes developed lands with an area of 5,000 square meters or more, as well as the total developed lands of a single owner with an area of 10,000 square meters or more in a single city, as determined by MOMRAH. According to Article 15 of the Implementing Regulations of the White Lands Fee Law, the amounts collected from fees and fines are allocated to infrastructure projects, housing projects, providing public facilities, and delivering public services in these areas.