Amendments may open real estate to expats
There may be a big change coming to the Kuwait real estate market. The issuance of Law No 74 of 1979 codified the restriction of the ownership of real estate to non-Kuwaitis with few exceptions other than to Arab nationals under certain conditions.
Now, however, momentum is building to change this restriction to help ease the situation in the local real estate market by allowing Expats to purchase real estate. One of the necessary requirements to allow this game-changer will be the establishment a public real estate authority to oversee and manage the process. Interesting times.