The Kuwaiti National Assembly unanimously approved a law that allows the government to establish companies, in which the Kuwaiti and foreign private sectors participate, specializing in the establishment of cities and residential areas whose units are sold to citizens at reduced prices.
In its special session in the first and second deliberations, the National Assembly approved the law establishing companies for the construction of cities or residential areas and their economic development and referred it to the government.
The Minister of Justice and Minister of State for Housing Affairs Faleh Al-Raqba stressed that "the adoption of the law establishing companies to establish cities or residential areas and develop them economically and real estate financing will contribute to accelerating the pace of implementation of housing applications significantly." Considering that, "the adoption of this law is the nucleus and beginning of many projects for various state facilities in terms of methodology and administrative and financial methods."
Source (Al-Asharq Al-Awsat Newspaper, Edited)
