There is no Zakah on the land intended for investment

Q: I would like to inform you that my two brothers and I have bought a plot of land measuring 2400 square meters in the area of Al-Khamis. We intended to invest it in the construction of housing units (Part No. 8; Page No. 95

A: There is no Zakah on the land prepared for investment (for rent) but the Zakah should be on the rent collected when it reaches the Nisab (the minimum amount on which Zakah is due) independently or after being added to other kinds of money and a full Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) passes.May Allah grant us success. May Allah's Peace and Blessings be upon Prophet Muhammad and upon his family and Companions.