Saudi king takes on rich developers with new land tax

Dubai

SAUDI Arabia's new monarch isn't afraid of riling the rich and powerful to get his subjects into homes they can afford.

One of King Salman's first policy decisions after taking power in January was to approve a tax on millions of acres of so-called white land: development plots in cities that lie empty for years because the owners have no incentive to build on them.

The move breaks the kingdom's taboo on property taxat…