Al-Marsad Newspaper: The executive regulations of the system of real estate expropriation for the public benefit and the temporary seizure of real estate, which was published by “Umm Al-Qura” newspaper today, approved the addition of 20 percent of the value of damages to expropriated real estate within the scope of the Diriyah Gate project.
The regulations approved by the Council of Ministers on November 22 revealed that this percentage is added to the compensation for expropriated real estate.
She indicated that in the event that the compensation was in kind, the person expropriating his property is exempted from the white land fees on the alternative property, if it is land for a specific period, as an exception from the white land fees system issued by the royal decree, provided that the Ministries of Finance and Municipal and Rural Affairs and Housing agree to determine that period.
The regulations included the state bearing the real estate disposal tax resulting from the purchase of a real estate substitute for the expropriated real estate, provided that what the state bears is within the limits of the tax amount imposed on the purchase process, if it was the full amount of compensation or less, and that this burden is in the event that the real estate purchase process takes place within a period not exceed five years from the date of receipt of the compensation amount.