Real estate financing and homeowners association meet
KUWAIT CITY, Sept 13: Deputy Director General for Planning and Designs at the Public Authority for Housing Welfare (PAHW) Engineer Nasser Khurabeit stated the sector is planning to implement several major projects in South Sabah Al-Ahmed City, South Sa’ad Al-Abdullah City and East Sabah Al-Ahmed City covering 1,200 housing units, reports Al-Qabas daily.
Speaking to the daily at the sidelines of the final activities of the real estate financing and homeowners association meeting organized in coordination with the Secretariat General of Gulf Cooperation Council, Al- Khurabeit said the planning and design works for South Sabah Al-Ahmed City will be completed in Sept 2019 as indicated in the contract.
He added obstacles to the implementation of South of Sa’ad Al-Abdullah City have been removed by relevant bodies in coordination with the Services Committee at Cabinet. Concerning the Olympic Village Project, Al-Khurabeit said it’s already in the planning and design stage while the total cost of executing the project is being discussed with concerned authorities due to high cost involved.
He stressed that planning of East Sabah Al-Ahmed City, which covers housing units of 300 square/meters similar to those included in the project of East of Taima’a City for rent will be completed by the end of 2018, in accordance with regulations governing citizens who are selling their houses. He reiterated the activities of the event covered review of the draft law on real estate financing by homeowners association, which will be referred to the Council of GCC Housing Ministers Meeting to be hosted by Kuwait in Oct 2018.