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
> More job losses underway in Kuwait
> Kuwait lacks foreign investments due to land restrictions
> Kuwait Property Sector records highest growth earnings
> Abyaar confident about real estate sector in the region
> Kuwait likely to grant land ownership to GCC investors
> Abyaar Real Estate to showcase new projects during forthcoming Cityscape Dubai 2008
> Kuwait Property sector witnesses recession
> Al Arabiya seeking arbitration proceedings against Sama Dubai
> Abyaar unveils new corporate identity
> Kuwait realty market hoped to rebound during Ramadan month