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English news

11-Feb-2016

Government to exempt certain areas from white land tax

Majid Hugail, Saudi Arabia's Minister of Housing, said he would exempt a number of areas in Saudi Arabia from the white land fees, pointing out that these areas include the cities that have not seen imbalances between supply and demand. Hugail said that the tax would be imposed on the cities that did not maintain this balance, and where there was a wide range of vacant lands owned by individuals. He stressed that the Ministry would start the development and construction of the centre-free cities and residential units before stretching to the edges, so as to ease the cost, noting that it would announce the target areas in the coming month of Ramadan. He explained that the Ministry would not be able to build a one and a half million units in five to eight years, but aspires to the participation of the private sector, which owns production capacities. (Argaam)  

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