Kuwait Real Estate News
Kuwait likely to grant land ownership to GCC investors
Citizens from other Gulf Arab states would be permitted to own land and properties in Kuwait, according to a proposal by the Kuwait Cabinet which aims to open up its real estate sector, Reuters reported.
As per the statement by the Cabinet, citizens of the UAE, Saudi Arabia, Bahrain, Oman and Qatar would be treated on par with Kuwaitis when it comes to ownership of land and property. Currently, the oil-rich State is closed to foreign ownership, and the real estate sector of the State is hit by the restrictions imposed by its government to reduce the residential property prices.
The bill submitted by the Cabinet is awaiting approval from Parliament.
Social Bookmarking
Read more news
> Property markets in GCC region to remain pressurized in 2012
> Kuwait property sector gathers pace following summer slowdown
> Kuwait realty sector post profits
> Kuwait records decline in expat count
> KAMCO report reveals positive indicators for Kuwait realty sector
> Majority of Kuwaitis investing in Dubai properties
> Latest Kuwait property sales report indicates improvement in the sector
> Increased demand for properties in Kuwait realty sector
> Property experts seek private sector support to develop housing sector
> KFH launches promotional campaign to finance residential real estate