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Kuwait Cabinet approves draft decree-law on mortgage finance

Kuwait’s Cabinet has approved a draft decree-law on mortgage finance for beneficiaries of state housing assistance, in a move aimed at supporting the sustainable provision of housing for citizens and expanding the tools available to address the housing issue. The Cabinet said the legislative framework for establishing companies to build residential cities or areas and develop them economically is one of the pillars for addressing the housing problem. It added that the push for new mortgage-finance legislation forms part of efforts to reinforce this approach and provide an additional, economically oriented solution to the housing issue, supporting the sustainability required to provide housing assistance. The Cabinet submitted the draft decree-law to Kuwait’s Emir, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah.

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Kuwait Cabinet approves draft decree-law on mortgage finance

Kuwait’s Cabinet approved a draft decree-law on mortgage finance for beneficiaries of state housing assistance and submitted it to Kuwait’s Emir, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, in a move aimed at supporting the sustainable provision of housing for citizens and expanding the tools available to address the housing issue.

An additional solution to the housing issue

The Cabinet said the push for new mortgage-finance legislation forms part of efforts to provide an additional, economically oriented solution to the housing issue, supporting the sustainability required to provide housing assistance.

Developing residential cities and areas

The Cabinet said the legislative framework for establishing companies to build residential cities or areas and develop them economically is one of the established pillars for addressing the housing problem, adding that the mortgage-finance proposal reinforces this approach.

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