“Idle Lands”: 332 million square meters sold and more than 8 million square meters developed during the first quarter of 2024

The Idle Lands program has revealed the sale of over 332 million square meters of idle lands in the first and second phases during the first quarter of 2024.

The program, in a press statement today, disclosed the exploration and registration of more than 10 million square meters of land within the announced city zones in the first and second phases during the first quarter. It also highlighted the completion of the development of over 8.2 million square meters of raw lands and the entry into trading or commencement of development works on more than 19 million square meters of lands, emphasizing its role in achieving its objectives in developing lands within the announced urban zones, increasing the real estate supply by bringing the sold lands into trading, and reducing land monopolies by exploring and registering lands subject to fees.

The program renewed its call for landowners to benefit from the support mechanisms provided by the Ministry of Municipal Rural Affairs and Housing through Etmam and the Ministry Agency for Housing Supply Stimulus and Real Estate Development, in order to accelerate the pace of developing idle lands, while considering the development obstacles faced by some landowners within the city's strategic direction and urban development.

It should be noted that the implementing regulations of the Law of Fees on Idle Lands include three stages of fee implementation. The first stage includes undeveloped lands with an area of 10,000 square meters or more within the ministry's designated zone. The second stage includes developed lands with an area of 10,000 square meters or more, as well as the total developed lands owned by a single owner with an area of 10,000 square meters or more within a designated urban plan.

The third stage includes developed lands with an area of 5,000 square meters or more, as well as the total developed lands owned by a single owner with an area of 10,000 square meters or more within a single city, as determined by MOMRAH. According to Article 15 of the implementing regulations of the Law of Fees on Idle Lands, the amounts collected from fees and fines are allocated to infrastructure projects, housing projects, delivery of public facilities, and provision of public services therein.