Saudi Arabia's Ministry of Municipalities and Housing (MOMAH) announced that 7 million square meters of undeveloped land in the Asir region have entered development programs. This initiative is part of the ongoing implementation of the White Land and Vacant Property Fees Law. The total area includes 1.5 million square meters that have already been developed and 5.5 million square meters currently undergoing active development. Revenues generated from white land fees have played a pivotal role in funding regional infrastructure, directly supporting 17 development projects in Asir. Across the Kingdom of Saudi Arabia, approximately 286 million square meters of undeveloped land have entered trading or development phases, with fee proceeds supporting a total of 88 housing and infrastructure projects, particularly in key hubs like Riyadh. The expanded application of land fees is aimed at increasing real estate supply, curbing land hoarding, and improving housing affordability across Saudi Arabia. Investors and market participants in the Saudi stock exchange (Tasi) will watch for long-term impacts on real estate development companies and potential shifts in housing demand and construction activity.
