Saudi Arabia will announce regulations detailing the planned implementation of the White Land tax law within two weeks, Housing Minister said. The law entails 2.5% annual tax on the value of urban land that is not being developed by its owners. The regulations will outline the plots subject to the tax and the timeframe for implementation. According to a draft, the law is likely to be applied in five stages starting with plots larger than 500,000 sqm and eventually include plots of 10,000 sqm, and allows six months for landowners to prepare the required documents. (Bloomberg, Al Riyadh)