Is zakat obligatory on land that was purchased with the intention of building and selling more than a year ago, and is still under construction with liquidity available? And what is subject to zakat: the price of the land or the price of the land and construction costs, and for how long? And is zakat obligatory on it for many years if construction stops due to lack of liquidity?

Zakat is obligatory on land purchased with the intention of trade (building and selling) annually. It is assessed along with any buildings on it at market price at the end of each lunar year (hawl). Each partner pays two and a half percent (2.5%) of his share if it reaches the nisab, by combining it with any money or trade goods he owns. The obligation of Zakat does not cease if the land remains for years or if the construction is stalled; rather, its current value is subject to Zakat.