Al-Assaf on the white land fees decision: The goal of the decision is noble and has a lofty purpose

The CEO of Musharaka Capital, Mr. Ibrahim bin Fahd Al-Assaf, spoke to Al-Youm newspaper about the approval of fees on undeveloped (white) lands, stating that the decision serves a noble and valuable purpose. He emphasized that this policy will have a positive impact on citizens, especially if it is implemented through a precise and transparent system that primarily aims to encourage landowners to develop their lands and convert them into real estate accessible to end consumers.

For instance, many undeveloped lands are owned by multiple heirs who may lack development experience or the necessary financial liquidity to develop the land or pay the fees. Therefore, the system should account for such cases and provide solutions that enable landowners to develop and benefit from their properties.

Al-Assaf stressed that the implementing authority must establish a collaborative relationship between landowners, government entities responsible for issuing building permits and approving development plans, real estate developers, and financing institutions. He highlighted the importance of applying the system in a modern and structured manner, taking into consideration the experiences of other countries that have implemented similar policies. These countries have successfully created integrated solutions tailored to various circumstances, ensuring that all stakeholders achieve their objectives.