Idle Lands Program adds 160M sqm to real estate supply

The Idle Lands Program has achieved remarkable growth since its launch, significantly increasing the Kingdom’s real estate supply by more than 160 million square meters (sqm) across various regions.

The program stated that more than 75 million sqm of land have been developed, while over 48 million sqm are currently under development. Additionally, more than 39 million sqm of land have entered circulation.

The program’s fees have been allocated to develop infrastructure for various residential projects across the Kingdom. Over SAR 2.7 billion was invested in developing and preparing infrastructure for more than 100 residential projects, enabling the construction of over 134,000 residential and commercial units. The executive regulations of the Idle Land Tax Law include three phases.

The first phase focuses on undeveloped lands plots with an area of 10,000 sqm or more, within the scope specified by the Ministry of Housing, according to data available with Argaam.

The second phase includes developed land plots with an area of 10,000 sqm or more, and those developed for a single owner with an area of 10,000 sqm or more in one scheme within the ministry’s specified scope.

The third phase covers developed land plots with an area of 5,000 sqm or more, and those developed for a single owner with an area of 10,000 sqm or more in one city within the ministry’s specified scope.