Zakat on Land
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Fatwa No. ( 14531 )
Q: I have a plot of land for which I have made a down payment to the Real Estate Fund, and I intend to sell it to exchange it for another plot when I find a suitable alternative. Is zakat due on it?
A: Zakat becomes obligatory on the value of the land once you intend to sell it, provided a lunar year has passed since the intention to sell and its value reaches the nisab. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q: I have a plot of land for which I have made a down payment to the Real Estate Fund, and I intend to sell it to exchange it for another plot when I find a suitable alternative. Is zakat due on it?
A: Zakat becomes obligatory on the value of the land once you intend to sell it, provided a lunar year has passed since the intention to sell and its value reaches the nisab. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.