Saudi Arabia Launches Geographical Zones for White Land Fees to Regulate Riyadh’s Real Estate Market

The Saudi capital, Riyadh (Asharq Al-Awsat)
The Saudi capital, Riyadh (Asharq Al-Awsat)
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Saudi Arabia Launches Geographical Zones for White Land Fees to Regulate Riyadh’s Real Estate Market

The Saudi capital, Riyadh (Asharq Al-Awsat)
The Saudi capital, Riyadh (Asharq Al-Awsat)

Saudi Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail has launched the geographical zones for the application of the White Land Fees program in Riyadh.

The initiative follows directives from Crown Prince and Prime Minister Prince Mohammed bin Salman and reflects the government’s commitment to serving citizens and residents.

Al-Hogail described the move as a key step toward regulating the property market and encouraging balanced urban development.

The Crown Prince had earlier instructed authorities to take measures to restore balance in Riyadh’s real estate sector and curb speculative land hoarding within urban areas. These efforts aim to increase supply and stimulate buying and selling activity.

Government oversight has already produced significant outcomes, including Cabinet approval to amend the White Land Fees law and the issuance of new executive regulations, both designed to promote development within urban zones and improve market balance.

Commenting on the launch, Al-Hogail said the new phase allows landowners and developers to capitalize on opportunities while advancing the ministry’s objectives of boosting supply and creating a healthier real estate market. He stressed that defining the zones demonstrates a commitment to transparency, helping owners understand their obligations and encouraging the development of idle land.

The designated zones were determined through detailed studies to ensure fairness and efficiency. They are structured across five priority tiers, with fees reaching up to 10 percent in the highest category, while properties outside the zones are exempt. The system is designed to discourage land monopolization and promote optimal land use.

The regulations under preparation will detail eligibility, exemptions, fee calculation, notification procedures, and anti-evasion measures to ensure fairness. Fees will apply without exception to properties within the designated zones. Owners are required to register their land immediately and decide whether to develop, sell, or pay the annual fee.

Registration opens instantly upon announcement and is mandatory within 60 days. Automated systems will track unregistered plots, and online registration is the only valid channel to complete compliance and avoid penalties.

According to the ministry, the decision will help increase supply, stimulate development, and strengthen market fairness, ultimately benefiting both citizens and residents. Fee revenues will be fully allocated to housing projects, further expanding residential availability and supporting developers.



France Not Considering Soccer World Cup Boycott over Greenland for Now

President Donald Trump is presented with the inaugural FIFA Peace Prize by FIFA President Gianni Infantino during the 2026 FIFA World Cup draw at the Kennedy Center, Dec. 5, 2025, in Washington. (AP Photo/Evan Vucci, file)
President Donald Trump is presented with the inaugural FIFA Peace Prize by FIFA President Gianni Infantino during the 2026 FIFA World Cup draw at the Kennedy Center, Dec. 5, 2025, in Washington. (AP Photo/Evan Vucci, file)
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France Not Considering Soccer World Cup Boycott over Greenland for Now

President Donald Trump is presented with the inaugural FIFA Peace Prize by FIFA President Gianni Infantino during the 2026 FIFA World Cup draw at the Kennedy Center, Dec. 5, 2025, in Washington. (AP Photo/Evan Vucci, file)
President Donald Trump is presented with the inaugural FIFA Peace Prize by FIFA President Gianni Infantino during the 2026 FIFA World Cup draw at the Kennedy Center, Dec. 5, 2025, in Washington. (AP Photo/Evan Vucci, file)

France's sports minister says her country is not currently thinking about boycotting the soccer World Cup in the United States amid growing tensions related to Donald Trump's quest to control Greenland.

“At the moment we are speaking, there is no desire from the ministry to boycott this major, much-anticipated competition," sports minister Marina Ferrari told reporters on Tuesday evening. "That said, I am not prejudging what might happen.”

Ferrari added that she wants to keep sports separate from politics, The AP news reported.

“The 2026 World Cup is an extremely important moment for all sports lovers,” she said.

With the tournament kicking off in June in the United States, Canada and Mexico, the US president's ambitions to wrest control of Greenland from NATO ally Denmark has the potential to tear relations with European allies.

In France, leftist lawmaker Eric Coquerel said the opportunity of a boycott by France, a two-time winner of the men's World Cup, should be considered.

“Seriously, can we really imagine going to play the footie World Cup in a country that attacks its ‘neighbors,’ threatens to invade Greenland, undermines international law, wants to torpedo the UN," he asked in a message posted on social media.

“The question seriously arises, especially since it is still possible to refocus the event on Mexico and Canada,” he wrote.

France lost to Argentina in the final of the World Cup in 2022.

No boycott by Scotland after 28-year wait In the UK, the Scottish National Party’s Westminster leader, Stephen Flynn, said boycotting the World Cup was not the right option for Scotland, which will feature at the World Cup for the first time since 1998.

“Without being flippant, we have boycotted the World Cup proactively since 1998 and I’m not entirely sure that’s a route that we want to go down again,” Flynn said.

“Instead I think we need serious and committed international dialogue with our allies on the European continent."

On Tuesday a number of MPs called for the home nations to boycott the World Cup. England and Scotland have qualified for the showcase event, while Wales and Northern Ireland are in the playoffs.

 

 

 


Saudi-Jordanian Business Forum Approves Roadmap for Cooperation in Promising Sectors

The forum's activities included meetings of the joint Saudi-Jordanian Business Council - SPA
The forum's activities included meetings of the joint Saudi-Jordanian Business Council - SPA
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Saudi-Jordanian Business Forum Approves Roadmap for Cooperation in Promising Sectors

The forum's activities included meetings of the joint Saudi-Jordanian Business Council - SPA
The forum's activities included meetings of the joint Saudi-Jordanian Business Council - SPA

The Federation of Saudi Chambers and the Jordan Chamber of Commerce organized the Saudi-Jordanian Business Forum at the federation's headquarters in Riyadh.

The forum's activities included meetings of the joint Saudi-Jordanian Business Council, the signing of five Saudi-Jordanian agreements in various sectors, and bilateral meetings between representatives of Saudi and Jordanian companies to build commercial and investment partnerships, SPA reported.

Specialized meetings were also held for the sectoral committees emanating from the Joint Business Council, to draw up a roadmap for cooperation in promising sectors including: agriculture and food security; industry, mining and energy; financial services and trade finance; health, pharmaceuticals and medical supplies; logistics, ports and transportation; reconstruction and infrastructure; tourism and hospitality; investment, trade and franchising; contracts; education and human resources; and information technology and digital trade.


Gold Breaks above $4,800/oz as Geopolitical Tensions Spur Safe-haven Bids

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola
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Gold Breaks above $4,800/oz as Geopolitical Tensions Spur Safe-haven Bids

UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola
UK gold bars and gold Sovereign coins are displayed at Baird & Co in Hatton Garden in London, Britain, October 8, 2025. REUTERS/Hiba Kola

Gold surpassed $4,800 an ​ounce for the first time on Wednesday as geopolitical tensions including US President Donald Trump's bid to control Greenland drove safe-haven demand.

Spot gold was up 2.1% at $4,865 per ounce by 9:30 a.m. ET (1430 GMT), after rising as far as $4,887.82 earlier in the session. US gold futures for February delivery climbed nearly 2% to $4,858.3 per ounce, Reuters reported.

"There's a ‌bit of fear ‌of missing out on this ‌trade ⁠and ​I think ‌given the geopolitical situation in the world, it's a perfect storm for higher gold and higher silver prices right now," said RJO Futures senior market strategist Bob Haberkorn. US stocks staged a modest recovery after the sharpest equities selloff in three months, as investors digested Trump's speech in Davos, Switzerland, in ⁠which he said Europe is headed in the wrong direction but ruled out ‌using force to acquire Greenland. Meanwhile, ‍the US Supreme Court ‍is set to consider Trump's unprecedented attempt to fire Federal ‍Reserve Governor Lisa Cook, in a case that tests the central bank's independence. The Fed is likely to hold its key interest rate through this quarter and possibly until Chair Jerome Powell's ​tenure ends in May, according to a majority of economists polled by Reuters.

Lower interest rates are ⁠favourable for non-yielding gold.

Spot silver was steady at $94.61 an ounce, after hitting a record high of $95.87 on Tuesday, driven by supply tightness and increasing industrial demand.

"Silver's rise to a three-digit number is looking quite possible given the price momentum we are seeing, but it will not be a one-way move. There could be some correction in prices and volatility can be higher," said Soni Kumari, ANZ commodity strategist.

Spot platinum was 1% higher at $2,487.05 per ounce after hitting a record $2,511.80 ‌earlier in the day. Palladium was down 0.9% at $1,849.25, after touching its highest in a week.