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Value of real estate properties not changed since beginning of fiscal yr

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KUWAIT CITY, Oct 14: Official figures released by the Ministry of Finance revealed that the value of real estate properties of the State has not changed since the beginning of the current fiscal year – KD 12.82 billion, while the cost of damages to these properties reached KD 153.39 million, reports Al-Rai daily.

The daily has reported that the country’s real estate assets are under the scrutiny of the ministry which is contemplating on the possibility of adopting the unified standards for assessment.

On the other hand, the debts owed to the government reached KD1.391 billion by the end of September.

This amount is higher than the uncollected debts recorded at the beginning of the current fiscal year – KD 1.336 billion. Therefore, the uncollected debts increased by KD54.53 million or 4.1 percent within six months.


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