Dar Al Arkan Real Estate Development Company Announcement Regarding Lands Subject to the White Land Tax
| Element List | Explanation |
|---|---|
| Announcement Detail | Reference to the updated Implementing Regulations issued by the Ministry of Municipalities and Housing on 22-08-2025 with respect to the application of the White Land Tax (“WLT”) regulations in light of the announcement dated 27-08-2025 about geographical zoning scope for the White Land Tax in Riyadh.
Dar Al Arkan Real Estate Development Company (“Dar Al-Arkan”) would like to inform its shareholders and investors about the expected implications of WLT based on its initial assessments on lands that are fall within the geographical jurisdiction considering full compliance under the current regulations of WLT. The initial assessment indicates that all lands excluding North Riyadh lands shall maintain the status quo on its applicability like earlier years. In the North of Riyadh, about 2.65 million square meters of land fall within the geographical zoning of 5% of WLT and other land of 181 thousand square meters of lands fall within the zoning of 10%. The Company expects to complete the development at the earliest opportunity to comply with the WHT guidelines. The Company shall conduct a detailed analysis of each of these parcels to assess and evaluate the applicability and the commercial impacts, if any, and shall update the stakeholders accordingly once the actual tax, if any, is assessed and accepted. |
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