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Saudi's New White Land Tax Prompts Fears Of Property Price Slump

by albawaba.com posted 2years ago 5110 views
The impending implementation of the white land tax on undeveloped properties is causing banks, companies and even the government to sell large parts of their property portfolios, sources have told Arab News. The fear is that real estate prices will dip by up to 50 percent in the Kingdom, it said.