Saudi Arabia’s Nomu-listed View United Real Estate Development Company has said that it does not own any white land.

As a result, the new fees are not expected to have a material impact on its results, the developer said in a statement.

The company’s real estate portfolio in Riyadh comprises properties under development, which meet compliance with the White Land Tax law.

Last week, View United launched the 'Prosperous Riyadh' programme, aimed at opening opportunities for white landowners in Riyadh.

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.

The initiative aligns with Saudi Vision 2030, which includes the Housing Program that intends to increase the homeownership rate among citizens to 70% percent by 2030.

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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