Kuwait City: According to sources, revisions to the restriction on foreign ownership of real estate investment units are expected. This is intended to compensate the losses incurred by those units as a result of the COVID-19 epidemic, which totaled KD 300 million. They noted that the law governing expatriate residency may likewise be modified for this reason. If these changes are implemented, the real estate sector will experience a significant resurgence. There are governmental studies, with international participation, aimed at regulating the real estate market, which is plagued by a number of negative phenomena that jeopardise the position of various sectors, particularly investment units, which are suffering from an increase in vacancies.
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