Saudi Arabia Introduces Fees on Vacant Properties
RIYADH — The Ministry of Municipalities and Housing has approved the executive regulations for vacant property fees as part of efforts to improve the efficient use of real estate assets and strengthen balance in the property market.The move comes in line with directives by Crown Prince Mohammed bin Salman aimed at regulating the real estate sector and improving the balance between supply and demand.The ministry said the regulations are designed to encourage the utilization of vacant buildings and increase the supply of residential and commercial units, helping curb practices that negatively af