RIYADH: The new land tax would be introduced in stages in the country to ensure property owners start developments to meet the country’s housing shortage, according to sources.

The fees, which were discussed by the Shoura Council on Monday in the wake of public complaints, would ensure a balance between supply and demand, and see prices fall, they said.

The fees would apply to land in excess of 10,000 squre meters, to motivate owners to start developments.