As part of ongoing efforts to develop the real estate sector and enhance its efficiency, the Saudi Ministry of Municipalities and Housing has introduced a new draft regulation targeting vacant properties in Saudi Arabia, through the “Istitlaa” platform to receive feedback from specialists before its final approval. This step reflects a broader direction toward more inclusive and flexible decision-making.

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The proposed regulation aims to organize the real estate market by addressing the issue of assets remaining unused, which directly affects supply and demand balance. This initiative seeks to encourage owners of both commercial and residential real estate to activate their properties instead of leaving them vacant, contributing to increased supply and greater market stability.

The draft includes imposing annual fees on vacant properties within specific geographical zones to be defined later based on precise technical criteria. It also clearly identifies cases where a property becomes subject to these fees, most notably when it remains unoccupied for a specified period during the year while being ready or suitable for use.

Additionally, the regulation addresses joint ownership situations, where fees are distributed among owners according to their ownership shares to ensure fairness in financial obligations. It also introduces rules for declaring occupancy status, verification mechanisms, billing procedures, payment methods, and cases where fee application may be suspended.

This initiative reflects the efforts of regulatory authorities to improve asset utilization within cities, transforming vacant properties into active contributors that support economic balance and enhance the sustainability of the real estate sector, while strengthening real estate market regulation under the supervision of the Saudi Ministry of Municipalities and Housing.