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We expect that the New Real Estate Developer law will not achieve the planned transformation for a simple reason; people will reject remote project areas. Those who accept them are either desperate or deceiving themselves that it’s suitable (because they’re desperate).
So what’s the point?
The government is in the phase of searching for sources of achievements and tenders, like reviving the deep tunnel project. A govrenment which didn’t succeed in solving problems above ground, now going underground!
The developer’s benefit will be limited to those profiting from tenders, allowances, rentals, and reselling government housing.
What’s your evidence for people’s and beneficiaries’ rejection?
The government should set conditions to prevent substitution and resale of government housing immediately after receiving it. We guarantee housing applications will decrease by about 50%, at least, then its investment appeal will decline.
Furthermore, the delayed law comes at a time when hundreds of thousands of citizens have had their citizenship withdrawn.
Is the timing appropriate?
Has the target number itself decreased, and what’s the projections for increase?
What will be the appeal, effectiveness, and benefit of investing companies and new houses?
Perhaps people could be housed in closer locations?
Unless the government continues to settle its favored expatriates, in Kuwaiti areas, which are more suitable for citizens socially, historically, economically, security-wise, and are geographically closer.
This is possible by incetivising monopolists, those who hold thousands of ready vacant lands and abandoned houses in their possession, to sell them at a reasonable price, or government purchase, then the government gives these ready lands to developers to develop them.
Isn’t this a faster and less costly solution in many aspects?
We shall wait and see how the government, which rarely has successes, will succeed this time.
