Al-Saqabi calls for urgent legislation to regulate “real estate chaos”

MP Dr. Abdulaziz Al-Saqabi called on members of the Legislative and Legal Affairs Committee to expedite the implementation of the proposals he submitted to control real estate chaos.

Al-Saqabi said in a press statement, “While we continue to finalize the laws on the sustainability of housing care to increase the supply and create housing cities, a small number of influential real estate dealers are still not only trying to disrupt the current housing projects that undoubtedly harm their interests, but also increase the chaos that is taking place. in private housing areas.

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MP Saleh Al-Shallahi

He explained that this chaos was the monopoly of land, speculation, and the transformation of residential real estate into investment, taking advantage of all possible government subsidies until prices reached an unbearable degree.

He added that he made a number of proposals dealing with lifting electricity and water subsidies for the third house and more, increasing the real estate registration fees for the third house and more, imposing tax fees on owning the third house and more, amending the 2008 law against monopolizing vacant lands, and establishing the Real Estate Authority to control real estate assumptions. And the undisciplined and unreasonable rental values, stressing that the longer these suggestions are delayed, the dream of every Kuwaiti citizen in the home of life will be delayed.

Also Read: Latest Written Updates

Source: Tellyupdates

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Adil Khan

Adil Khan writes about Kuwait National News for Mykuwaits, out of Kuwait. Adil Khan is a senior reporter for Mykuwaits.com and has frequently written about the latest developments in the State of Kuwait. Adil Khan is available on Facebook at the below link, Please send in your leads and tips.
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