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Parliamentary Committee Proposes Attracting Real Estate Developers
First 2024/11/03
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The Parliamentary Investment and Development Committee proposed attracting more real estate developers to contribute to the development of residential lands. The committee called on the National Investment Commission and the investment authorities in the governorates to oblige investors to abide by the investment law. Committee member Diaa Al-Hindi explained in an interview with Al-Sabah that "this clause gives developers the opportunity to develop areas by paving roads and providing basic services, making them ready to receive residents, and the revenue collection will be allocated to them after the development process." He pointed out that "current housing projects focus on building complexes that aim to achieve quick profits without paying full attention to the quality of infrastructure or services," noting that "most countries in the world are currently moving towards resorting to real estate developers to ensure an appropriate housing standard that meets the needs of citizens and achieves sustainable development."
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