Kuwait Real Estate News
Low-Budget housing in Kuwait makes way
Public Authority for Housing Welfare, together with Kuwait Municipality and the Kuwait Petroleum Company, has announced that a new site for building low-budget houses, would be available shortly.
The new site has been already approved by the three groups, and will be handed over to the municipality in the next couple of days. Authorities are currently in the process of preparing the necessary charts and plans for the site.
In yet, another development in Kuwait, MP Hussein Mizyed, has suggested amending Article 1 of Law No.46 for the year 2005, which explains establishment of monetary fund for financing the maintenance and expansion of private residences. The suggestion calls for a fund of KD200mn to finance private residence expansion and maintenance for 20 years.
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