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Kuwait Government assures implementation of more reliable housing laws
The State Minister for Housing Affairs, Abdulwahed Al-Awadhi, has announced that government has assured to extend all possible measures towards implementation of two main housing regulations, recently passed by the National Assembly.
The laws aimed at expediting the distribution process of houses and residential plots to citizens. The Minister, when speaking to the reporters, assured that the Housing Committee will soon come up with a new mechanism towards implementing the housing plan, so as to enable the government authorities to execute the law.
Last week, the National Assembly had approved two laws, which bans the real estate firms from dealing with land plots allocated for housing purposes, and has asked the government to provide about 100,000 plots of houses and land, within next three years to citizens.
The laws called for imposition of high fees on people, who hold large tracts of unexploited lands and has stipulated that all those, who possess, more than 5000 square meters of land, should sell it within stipulated three years. He also said that the Ministry would begin allocating 250 plots every week, and the allocations would be increased periodically during later stages.
With reference to the allocated land, he explained that the housing authority, together with the Kuwait municipality, were closely co-ordinating with each other for allocating new areas of land to execute new housing cities and projects.
According to the officials, the main problems faced by Kuwait housing sector currently, is that, 95 percent of the land in the country is controlled by the government, while the rest five percent is in the hands of real estate merchants, who deliberately put aside sale of properties, until the real estate rates increase dramatically. To add to this, the government-controlled land has been reserved for purposes of oil-exploration.
This, in turn, makes the allocation of land a lengthy process, involving housing authority, oil sector and the municipality, besides other ministries that need to expand their infrastructure. This is one of the main reasons behind the huge rise in real estate prices, and the prices have skyrocketed due to scarcity of land, making it difficult for citizens to own homes without government help. Although, the government assists citizens in allocating plots, citizens are required to wait years together for their turn to get a house, or a residential plot, together with construction loan of KD70,000.
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