Owners of vacant plots in Saudi Arabia will be at a risk of losing their properties if they do not initiate construction soon
Saudi Arabian minister of housing Shuwaish Al-Dhuwaihi revealed that his ministry?s strategy regarding vacant plots was ?build or sell?.
Al-Dhuwaihi explained that owners have been warned that the authorities will seize their properties if they don?t develop these empty spaces in the next few years.
The minister further said that 70 per cent of the lands in cities were vacant, which ?is a threat to social stability.?
Al-Dhuwaihi stated that his ministry has no intentions of buying land to build housing units. "Investing in vacant plots in way of selling and buying will not be productive and construction must take place. Another option for the ministry is to inflict a fee on the vacant plots if the owners persist on keeping them undeveloped," noted the minister.
?This is just a means and not a goal in order to provide more lands for housing. We?ll make sure that such a step doesn?t add burden to the citizens,? Al-Dhuwaihi said. He also confirmed repeatedly that every deserving citizen would have land and a loan to build on it.
Saudi Arabian citizens will have a choice whether to receive a loan or a housing unit built by the ministry.
