Question
Dear respected Shaykh, assalamu alaikum wa rahmatullahi wa barakatuh. I bought land for 13000 Saudi riyals in order to erect a commercial building on it (a family motel). I bought another land for 75000 riyals so that I may sell it after ten years and build the first land with the money. I do not intend to sell these two pieces of land now. Is it compulsory for me to pay Zakat on the two pieces of land?
سأبيعها بعد عشر سنوات
Answer
Praise be to Allah, and may Allah’s peace and blessings be upon the Messenger of Allah, his family and his companions. Wa alaikum assalam wa rahmatullahi wa barakatuh. As to what follows: In response to your question, we say: There is no Zakat on the two pieces of land because they are not trade goods.
Praise be to Allah, and may Allah’s peace and blessings be upon the Messenger of Allah, his family and his companions. Wa alaikum assalam wa rahmatullahi wa barakatuh. As to what follows: In response to your question, we say: There is no Zakat on the two pieces of land because they are not trade goods.
