Zakah on land is obligatory if it is a commodity of trade

Question:
May Allah reward you with good and do you good. He says: I bought a piece of land twelve years ago for the purpose of establishing a project on it, but nothing of this has been completed to this day. For your information, the value of the land has increased. Is there zakah on this land, and how is it paid, and when is it paid? May Allah reward you with good.

Answer:
If you intended this land for residence or for investment, there is no zakah on it. Zakah becomes obligatory on it only if you intended it for sale and put it up for sale, in which case it becomes a commodity. And commodities of trade are subject to zakah every year, just as zakah is obligatory on trade goods. This is if you intended it for sale and put it up for sale. However, if, as you mentioned in the question, you intended it for building upon it for residence or for investment, then there is no zakah on it because it is not intended for trade.