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Total of 18,700 buildings in Kuwait are vacant

Thursday, February 22, 2024
Total of 18,700 buildings in Kuwait are vacant

As per the latest data on end of December 2023, a total of 18,700 buildings in Kuwait are vacant, which is almost 8.6 percentage of total building in the country.

The total number of buildings in Kuwait witnessed a growth of 1.4 percent during the year 2023, bringing the total from 2,15,000 buildings at the end of December 2022 to about 2,17,997 buildings at the end of December 2023, an increase of 3,000 buildings.

Residential buildings accounted for about 67.2 percent of the total buildings, with about 146,460 buildings, followed by buildings used for housing and work, with a percentage of 15.9 percent, ie about 34,600.


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Express your comment on this article

 
Syed
Thursday, February 22, 2024
Because too much visa problem . People like to go Dubai Qatar or other gulf countries. I want to go out also. Visit visa & family visa also. Need high salary. Better to go other countries

asif
Thursday, February 22, 2024
@Syed .... why are you giving Autobiography. let it be Enjoy!
Please Don''t go in Details

Eng.Syed
Thursday, February 22, 2024
sorry the current occupied buildings are 71537 instead of 217997.
Kindly amend it. The remaining revenue calculations are correct.

Eng.Syed
Thursday, February 22, 2024
Concerning the above news, I am suggesting a plan that could significantly boost the economy of Kuwait. Currently, there are 217,997 buildings occupied in Kuwait, with an average rent of 180KD per flat. This results in a total income of 540,819,720 KD. However, I believe we can optimize this income and use it to benefit the country in various ways.

Firstly, by eliminating the practice of tenants paying 5KD to Haris,(The building owner is responsible for his sustenance) and instead imposing a 3% tax on each tenant, we can generate an additional income of 1,622,492 KD per month. This tax revenue can be utilized to expand Kuwait''s infrastructure within 3 years and provide subsidies for loans to Kuwaitis, thus fostering economic development.

Moreover, the surplus generated from this property tax can be used to promote tourism and further enhance the country''s economy. By investing in infrastructure and providing financial support to our citizens, we can create a more prosperous and sustainable future for Kuwait.

I am confident that this plan has the potential to yield significant benefits for our nation.

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