15 Hrs
Source:
الراي
Housing reforms to boost private partnership
The Kuwaiti government has announced a package of legislative and executive reforms in the housing sector aimed at strengthening partnerships with the private sector. These reforms include plans to produce approximately 170,000 housing units over the next ten years. The reforms encompass the Housing Finance Law, which provides additional financing tools to expedite housing distribution procedures and reduce waiting periods. They also involve amending the Real Estate Developer Law to enable private sector companies to undertake various housing projects according to high standards. Additionally, 22 alliances comprising 41 companies have been qualified to participate in three major housing projects, with a focus on building integrated urban communities that meet citizens' needs and are based on sustainable visions. The goal is to improve quality of life and accelerate project implementation through collaboration with government and private entities.
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