Promotion of ‘flats’ by building owners rapped
‘Real estate fetching good rates’
KUWAIT CITY, March 27: Secretary General of Kuwait Real Estate Association Qais Al-Ghanim has denounced the manner in which some building owners are promoting their flats lately and obliging tenants to pay six months rent in advance in order to benefit from discount while signing the contract, reports Al-Rai daily.
He noted the act violates law, noting two types of contracts are applicable in Kuwait. The first contract involves furnished apartments that require approval of the Ministry of Commerce and Industry and the Interior Ministry.
He also said the second type of contract is for furnished flats, which is normally rented to tourists on contract basis and valid for six months.
Meanwhile, president of the Real Estate Association Tawfeeq Al-Jarrah stated rent contracts are conditional on demand and request, and that six months contracts give tenants the chance to bargain for fee reduction.
Last week, the biggest real estate deal, which was worth KD5.8 million, was reportedly struck by a major player in the real estate market, reports AlRai daily.
According to a source, this “big man” succeeded in acquiring a commercial property sitting on an area of 497 square meters for KD 2.6 million. He also got two buildings in Hawally and Salmiya investment areas on a total area of 1,487 square meters at a cost of KD 3.2 million. Kuwait’s ambassador to Switzerland Bader Al-Tunaib handed on Monday the President of the Swiss National Council, Jurg Stahl, an official invitation to visit Kuwait later this year from the Speaker of the Kuwaiti National Assembly Marzouq Al-Ghanim.
The diplomat told KUNA that Stahl expressed his happiness for receiving this invitation that aims at boosting parliamentary relations between both nations, and enhances reciprocal ties.
Al-Tunaib indicated that the Swiss parliament members admire the Kuwaiti democratic experience and
The source said majority of the commercial and investment real estate sold last week went for good prices, adding that there were 13 commercial and investment real estate purchase deals worth about KD16 million in three governorates within that period.
Minister of Awqaf and Islamic Affairs and State Minister for Municipal Affairs Mohammad Al-Jabri announced the launch of a campaign titled “Kalhem Yoramdoon Wayana” (Let them spend Ramadan with us) organized by Zakat House in May 2017 for the release of a number of prisoners, reports Al-Rai daily.
Al-Jabri, who presided over the meetings of the board of Zakat House, said the limit has been increased from KD 300,000 to KD 500,000, provided the prisoner is a first-time beneficiary and priority is given to the neediest.