Head of the White Lands Fees Program, Abdul Hamid Al-Hammad, said that the program is moving in a clear strategic path and focuses a lot on increasing the real estate supply and combating monopolistic operations.
Al-Hammad added in an interview with “Al-Arabiya”, that the White Fee Program announced the second phase in Riyadh, Jeddah and Dammam, and the expansion in the area of Makkah Al-Mukarramah.
He pointed out that this was based on economic and real estate studies related to increasing the real estate supply to reduce the gap with demand.
Al-Hammad indicated that the second phase focuses on developed lands within cities and raw lands on the outskirts of cities, adding: “This phase focuses on lands within neighborhoods of 10,000 meters or more, or a total of 10,000 in one scheme.”
He revealed that the program does not aim to impose specific fees, but rather aims to motivate land owners to develop them and pump more real estate supply into the market.
He explained that more than 100 million square meters have been identified at the level of Makkah, Jeddah and Dammam, and they will be subject to the fees program in the coming period, adding: “It is not necessary that these lands be subject, as there will be a regular 6-month period that may witness the sale of a group of lands or obstacles.” The owners are therefore not entitled to a fee.
