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Housing Authority permits to set up the Sabah Al-Ahmad City
The Acting Director General for Housing Authority, Faisal Al-Khalaf has announced that measures have been taken to set up the infrastructure of the Sabah Al-Ahmad City next month.
Speaking on the occasion of the launch of the Kuwaiti Real Estate and Financing Exhibition, Al-Khalaf mentioned that the Al-Ahmad City would consist of 9650 housing units, and the main streets and infrastructure installations would be complete within three years.
He added that the state had given the Housing Authority large pieces of land to build more than 96,000 housing units within the year 2013. However, whether the expatriates are entitled to own the housing units will be decided after consulting the Ministry of Commerce and Industry, who is directly linked to the issue.
He denied claims that Kuwait was facing a housing crisis, and said that the issue was due to the problems pertaining to ownership rights of home units. He was of the opinion that the real estate market would settle down during the second half of 2008, as the real estate curve has already reached its peak, and was due for a fall.
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