Land prices in the Kingdom dropped by 9 percent to reach an average price of SR524 per square meter in Dul Qaada of the current Hijri year compared to SR573 in Shawwal, local media said.

The drop in land prices comes on the back of reported news on the possible imposition of fees on white (vacant) lands, Al-Eqtisadiah daily said.

The Eastern Region has topped other regions of having the most expensive price of lands at SR1,118 per square meter while the Al-Qasim Region was the cheapest at nearly SR136, the report said.

In mid-September, the Council of Senior Islamic Scholars (CSIS) explored a study on the possibility of imposing fees on white lands located within urban areas of cities and provinces.