Riyadh city
Saudi Arabia is expected to announce today the approval of the executive regulations governing annual fees on vacant properties, according to sources cited by Al Eqtisadiah newspaper. 
The report said the implementation date for fee collection will be determined later, paving the way for annual fees of up to 5% of a building’s value when vacancy criteria are met.
Sources added that clarification is still awaited on whether the six-month vacancy period will be calculated on a consecutive or cumulative basis, in accordance with the approved controls, standards, and implementation mechanisms.
According to Argaam, the Ministry of Municipalities and Housing (MOMAH) had previously published the draft executive regulations for vacant property fees via the “Istitlaa” platform to gather public feedback.
The draft stipulates that fees will be assessed based on the property’s “market-equivalent rent” under prevailing market standards, provided that the annual fee does not exceed 5% of the property value. A specialized technical committee would also be formed to conduct valuations under approved criteria.
The regulations set several conditions for a property to be subject to the fee, most notably that the designated scope, livable, remain vacant for at least six months during the reference year, and fall below minimum service consumption.
Riyadh city
Saudi Arabia is expected to announce today the approval of the executive regulations governing annual fees on vacant properties, according to sources cited by Al Eqtisadiah newspaper.
The report said the implementation date for fee collection will be determined later, paving the way for annual fees of up to 5% of a building’s value when vacancy criteria are met.
Sources added that clarification is still awaited on whether the six-month vacancy period will be calculated on a consecutive or cumulative basis, in accordance with the approved controls, standards, and implementation mechanisms.
According to Argaam, the Ministry of Municipalities and Housing (MOMAH) had previously published the draft executive regulations for vacant property fees via the “Istitlaa” platform to gather public feedback.
The draft stipulates that fees will be assessed based on the property’s “market-equivalent rent” under prevailing market standards, provided that the annual fee does not exceed 5% of the property value. A specialized technical committee would also be formed to conduct valuations under approved criteria.
The regulations set several conditions for a property to be subject to the fee, most notably that the designated scope, livable, remain vacant for at least six months during the reference year, and fall below minimum service consumption.
