15 Hrs
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كويت نيوز
Housing Minister outlines Real Estate Financing law for housing stability
The Kuwaiti Cabinet has approved a draft decree-law related to mortgage financing for eligible beneficiaries of housing care, aimed at ensuring the sustainable provision of decent housing for citizens. The project includes 15 articles that specify eligibility criteria, repayment mechanisms, and regulations concerning the financing of purchasing or constructing residential units. It also enhances the rights of entities granting housing projects and provides mechanisms for rescheduling loans in case of default. Additionally, the repayment period is set at a maximum of 25 years, and the financing will be implemented in phases in accordance with laws governing the establishment of cities and residential facilities. The overall goal is to support citizens in obtaining suitable housing and to improve the sustainability of the housing sector in Kuwait.
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