Is zakat obligatory on a commercial property that was purchased in installments, with a portion of its price paid, but which has not yet been received?

If a Muslim purchases a commercial property, and their intention is to operate a business, such as stocking and selling goods, then there is no zakat on the property itself. Zakat is only due on the merchandise offered for sale once a full year has passed. However, if the property was purchased with the intention of reselling it, then zakat is due on the value of the property. Its value is assessed annually when a full year has passed, and its zakat, one-quarter of one-tenth, is paid.

Regarding not taking possession of the property, if the buyer is able to take possession of it, then zakat is obligatory upon them when a full year has passed, even before taking possession. It must be paid immediately and not delayed until possession is taken, as held by the majority of scholars due to the completion of ownership. If zakat becomes obligatory on goods or property, the full value is zakatable, and installments are not deducted unless the owner does not possess surplus funds beyond their needs that could cover the debt. In that case, the value of the installments is deducted from the value of the property or goods, and the remaining amount is zakatable, provided it does not fall below the nisab (minimum threshold).