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Vacant land tax will improve the real estate sector
Published in The Saudi Gazette on 26 - 03 - 2015

I am writing with regard to the article "Imposition of tax on vacant plots of land hailed" (Mar. 24). Custodian of the Two Holy Mosques King Salman did this for the benefit of his people. It is an unprecedented decision that will have a positive effect on the real estate sector and diminish the avariciousness of those who hold and trade in real estate. The imposition of tax on such land will open a big window of opportunity for those Saudis who have not been able to possess their own homes. We are all grateful to King Salman.
Dr. Abdullah Al-Kheliewi, Online response
This is a wise decision. Businessmen buy land and leave it vacant waiting for the price to increase, but this only leads to the suffering of citizens who cannot afford the price of land on which to build their homes. Now more people may be able to buy plots of land to construct homes, especially in the Kingdom's cities.
Khalid Sohail, Online response


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