Saudi Arabia’s Nomu-listed View United Real Estate Development Company has launched the “Prosperous Riyadh” programme, aimed at opening opportunities for white landowners in Riyadh.

 The initiative aims to transform undeveloped white land into vibrant residential and commercial destinations, the company stated on Thursday.

Under the programme, white land tax obligations can be converted into real investment opportunities. Moreover, the company can set up partnerships with white landowners.

Additionally, the initiative will maximise the value of untapped real estate assets by identifying new development opportunities that add economic and social benefits for Riyadh.

The programme will offer a range of partnership models that cater to the diverse needs of owners.

The “Prosperous Riyadh” is an extension of the company’s previous announcement on 29 January 2025, when it signed an agreement with the Ministry of Municipalities and Housing to improve the efficiency of the real estate development sector.

Read more: Saudi's Sumou, Asas Makeen confirm exemption from new White Land Tax law

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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