Laden Investment Company announced on Monday that it has received notifications of invoices for vacant land fees totaling SAR 2.56 million for its land located within the urban development zones targeted by the program. In an official statement published on the Saudi Stock Exchange (Tadawul) website, the company revealed that these invoices were received on January 1, 2026, prompting it to clarify its legal and operational position regarding these financial claims.
In its objection, the company clarified that the land in question is not undeveloped or unused, but rather developed land falling under approved off-plan sales projects. Laden indicated that these real estate assets are currently undergoing final marketing and ownership transfer procedures to the end beneficiaries, thus negating their status as "undeveloped land" subject to fees according to the system's implementing regulations.
This announcement comes in the context of the real estate movement witnessed by the Kingdom of Saudi Arabia, where the White Land Fees Program, approved by the Ministry of Municipal and Rural Affairs and Housing, aims to increase the supply of developed land in order to achieve a balance between supply and demand, provide housing units at reasonable prices, in addition to combating monopolistic practices of land within the urban area.
Based on the regulations, landowners have the right to object to issued invoices if there are legitimate grounds, such as the land being developed or the existence of legal impediments preventing its disposal. Off-plan sales projects (Wafi) are among the most important channels supported by the state to promote urban development. The status of lands subject to these projects is usually considered to ensure there is no duplication of regulatory objectives, as the primary goal of the fees is to incentivize development, which is effectively achieved in off-plan sales projects.
Laden Investment Company confirmed its intention to proceed with the necessary legal procedures to file a formal objection within the specified timeframe, based on documents that substantiate the status of the development land. The company also committed to promptly disclosing any material developments in this matter, whether related to the acceptance of the objection and the cancellation of the invoices, or any other financial developments that may affect its financial statements. This reflects the company's commitment to transparency with its shareholders in the financial market.
