Event Details

This document is page 65 of a Merrill Lynch financial research report (GEMs Paper #26) dated June 30, 2016, analyzing Saudi Arabia's real estate market reforms, specifically the introduction of a land tax and housing initiatives. It discusses government goals to increase non-oil GDP contribution from real estate, the role of the Ministry of Housing and SAMA, and the financial implications of a 2.5% tax on undeveloped 'white lands.' The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was part of a congressional investigation, likely related to financial records involving major banks.