Is Zakat obligatory on a plot of land purchased with the intention of selling it when its price increases, and not with the intention of residing in it?

As long as a person has bought the land with the intention of trade, it is considered a trading commodity, and according to the majority of scholars, zakat (definition) is obligatory on it by valuing it every year and paying one-quarter of one-tenth of its value. The Malikis are of the view that it is sufficient to pay zakat on it only once when it is sold. The opinion of the majority is more cautious and more absolving of responsibility.