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“White Lands”: two billion riyals to develop 80 housing projects

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The White Lands program revealed two billion riyals of revenue were spent on developing infrastructure projects and providing services in more than 80 housing projects in Various cities of the Kingdom, from the beginning of the program until the end of last year 2021.

This comes as an extension of the program’s role in the augmentation Residential real estate offer from developed landAchieve market balance and protect fair competition, with the aim of increasing the home ownership share for Saudi families to 70% by 2030 in compliance with the goals of the Iskan Program, one of the Kingdom’s Vision 2030 programs.

The program explained in a press release that taxes have helped enable more than (185) thousand Saudi families, since the program was launched, to obtain appropriate housing options for them, including land and housing units in a number of cities and regions in the kingdom, according to the Saudi news agency “SPA”.

The program has issued more than 8,000 white lands bills since its launch until the end of 2021, bringing the total areas registered in the program to exceed 500 million square meters spread across major cities (Riyadh, Jeddah, Makkah and Dammam).

The program indicated that the total areas of land developed by their owners, which are in development phase, and the traded land that entered the real estate offering market amounted to 102 million square meters, while the areas uncovered by the program exceeded 155 million square meters, in order to achieve the program objectives by providing developed residential land within the urban area specified for cities.

The White Lands program announced last month the start of the second phase implementation and the broadening of the scope of the target for the city of Riyadh, after completing all the necessary legal procedures in collaboration with the competent authorities of the bodies, secretariats and committees, in an effort to achieve the three main objectives of the program, which include increasing the supply of developed land and achieving balance between supply and demand, protection of fair competition and anti-monopoly.

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