Logo ofAsas Makeen Real Estate Development and Investment Co.
Asas Makeen Real Estate Development and Investment Co. , newly listed on the Nomu – Parallel Market, stated that all its land holdings are classified as developed investment properties or properties under development. 
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According to a statement on Tadawul, the company’s real estate portfolio does not include any undeveloped plots subject to the provisions of the Idle Land Tax Law and its implementing regulations.
Accordingly, Asas Makeen has no regulatory or financial obligations under the Idle Land Tax Law.
Any material developments will be disclosed in due course, it noted.
According to Argaam data, the ministry announced last month the geographical zones in Riyadh subject to the Idle Land Tax. The annual fee is set at 10% of land value for the first tranche, 7.5% for the second, 5% for the third, and 2.5% for the fourth. Land in the fifth tranche, which lies outside priority zones, is not subject to the annual tax but is counted within undeveloped plots owned by the taxpayer.
It is worth noting that Asas Makeen was listed and began trading on the Nomu – Parallel Market on June 16, 2025, at a share price of SAR 80.
Logo ofAsas Makeen Real Estate Development and Investment Co.
Asas Makeen Real Estate Development and Investment Co. , newly listed on the Nomu – Parallel Market, stated that all its land holdings are classified as developed investment properties or properties under development.
For more news on listed companies
According to a statement on Tadawul, the company’s real estate portfolio does not include any undeveloped plots subject to the provisions of the Idle Land Tax Law and its implementing regulations.
Accordingly, Asas Makeen has no regulatory or financial obligations under the Idle Land Tax Law.
Any material developments will be disclosed in due course, it noted.
According to Argaam data, the ministry announced last month the geographical zones in Riyadh subject to the Idle Land Tax. The annual fee is set at 10% of land value for the first tranche, 7.5% for the second, 5% for the third, and 2.5% for the fourth. Land in the fifth tranche, which lies outside priority zones, is not subject to the annual tax but is counted within undeveloped plots owned by the taxpayer.
It is worth noting that Asas Makeen was listed and began trading on the Nomu – Parallel Market on June 16, 2025, at a share price of SAR 80.
