Kuwait: Individuals own 90% of lands
According to Al-Rai Al-Aam newspaper, executives in real estate companies said that their companies are not responsible for the rising land prices in Kuwait.
The executives indicated that individuals own 90% of the total land, which is appropriate for residential projects in the country. They added that they suffer from the rising land prices, and thus, required the government to support the private sector by granting incentives to ease the high land prices' effects. Real estate specialists said that the per lot price (425 square meters) amounted to KD 125,000 in Al-Zahraa area and the per meter price amounted to KD 300.
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