PAVING THE WAY FOR FOREIGN INVESTMENT IN REAL ESTATE SECTOR

  • 29/09/2021

Kuwait City: Reports are paving the way for foreign investment in the real estate sector. The government is considering a number of proposals related to the implementation of housing policies required for real estate development. The move is part of a drive to increase investment in the private sector, the ministry said in a statement, citing official sources. A generous approach will be taken to provide housing loans and land distribution. The Ministry has submitted a number of proposals to the Cabinet to develop economic policies on pricing of goods, services and public assets in the distribution and consumption of housing. 


Earlier, it was reported that the Kuwaiti real estate sector was facing a sharp decline due to the large number of foreigners fleeing. Of the 3,35,100 apartments in the country, 61,000 are vacant. As the covid crisis intensified, many foreigners fled the country. The inability of many to return has led to a major crisis in the real estate sector. It is also reported that the owners have reduced the rent as they could not find residents in different parts of the country.

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