Cabinet approves decree on Non-Kuwaiti real estate ownership

According to a government source, the Council of Ministers has approved a decree amending provisions of Decree-Law No. 74 of 1979, which regulates real estate ownership by non-Kuwaitis in Kuwait.

The following are most prominent amendments:

1. Human Modification:

The amended decree allows the children of Kuwaiti Arab women to permanently own real estate inherited from their mother, reinforcing human rights and promoting social stability for them.

2. Economic Adjustment:

The amended decree excludes companies listed on the Kuwait Stock Exchange, licensed investment funds and portfolios, and investment entities authorized under the Direct Investment Promotion Law from the prohibition on real estate ownership.

These entities are permitted to own properties essential for their activities, subject to restrictions that prevent real estate speculation and ensure the use of properties solely for investment and development purposes.

Source: Al Qabas