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Kuwait plans new city to house 20,000 expats
| Published: | 30 Jun at 6 PM |
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The Kuwaiti government is to invite bids for the construction of a brand new city to house expats.
To be known as the ‘Southwest Al Jahra Labour City‘, the massive conurbation will provide homes for foreigners working in the emirate and will be located in the Northern Al Jhara region. According to the Arabic language newspaper Al Bahar, the project will be a joint private/public sector venture and is expected to be ready for occupation by 2021. No details as yet have been given as to the requirements necessary for expats to live in the new city, nor are there any details as to the amenities on offer.
Kuwait’s real estate sector has seen a boom over the past several months, especially in commercial project sales, reaching an all-time high due to a 50 per cent increase in completed deals. In May, the residential sector saw an increase of 84 per cent over April’s totals, and investment property sales doubled over the same period. Average prices of residential properties increased by some 13 per cent, with the increase related to a number of real estate auctions held in the emirate.
Meanwhile in Saudi Arabia, expatriate workers are giving their opinions on the new expat tax due to begin tomorrow, July 1. The tax on expatriate workers and their dependents is to be paid annually on the date of the residence visa renewal or at the time of issuance of a new visa. At present, the rate is $26 for each individual, but will rise incrementally until 2020. Literally millions of expats and their families will be affected, with the majority seeing no way of avoiding its effect on their lifestyles.
One expat told local media his community had accepted the new tax as they had no option but to pay in order to continue working in Saudi. He added the compulsory payment for himself and his family would take a toll on their living expenses as they already have to afford school fees and rent. He’s also concerned about the effect of new tax laws on the small, private company he works for, saying no-one knows how private firms will deal with it and whether they will be able to compensate their employees.
To be known as the ‘Southwest Al Jahra Labour City‘, the massive conurbation will provide homes for foreigners working in the emirate and will be located in the Northern Al Jhara region. According to the Arabic language newspaper Al Bahar, the project will be a joint private/public sector venture and is expected to be ready for occupation by 2021. No details as yet have been given as to the requirements necessary for expats to live in the new city, nor are there any details as to the amenities on offer.
Kuwait’s real estate sector has seen a boom over the past several months, especially in commercial project sales, reaching an all-time high due to a 50 per cent increase in completed deals. In May, the residential sector saw an increase of 84 per cent over April’s totals, and investment property sales doubled over the same period. Average prices of residential properties increased by some 13 per cent, with the increase related to a number of real estate auctions held in the emirate.
Meanwhile in Saudi Arabia, expatriate workers are giving their opinions on the new expat tax due to begin tomorrow, July 1. The tax on expatriate workers and their dependents is to be paid annually on the date of the residence visa renewal or at the time of issuance of a new visa. At present, the rate is $26 for each individual, but will rise incrementally until 2020. Literally millions of expats and their families will be affected, with the majority seeing no way of avoiding its effect on their lifestyles.
One expat told local media his community had accepted the new tax as they had no option but to pay in order to continue working in Saudi. He added the compulsory payment for himself and his family would take a toll on their living expenses as they already have to afford school fees and rent. He’s also concerned about the effect of new tax laws on the small, private company he works for, saying no-one knows how private firms will deal with it and whether they will be able to compensate their employees.
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