Praise be to Allah, The Lord of the Worlds.

Ruling on the Zakah of a piece of land depends on the intention behind buying it. If it is intended for trading then it is liable for Zakah. But, if it is intended for present or future use, bought to be kept, then it isn`t liable for Zakah because the reason which makes it liable for Zakah isn`t existent. Al-Shirbini said: "When an item is bought for trading then it is liable for Zakah." {Moghni al-Mohtaaj, 2/106}.

In conclusion, there is no Zakah on the piece of land mentioned in the above question because it wasn`t bought for trading. And Allah The Almighty knows best