Proposal To Change Rent Law According To Sqft Rate - Ministry Of Commerce And Industry

Ministry of Commerce and Industry formed a committee to review the proposed new rent law. According to Arab Times report, the committee will be submitted a new proposal for the rent law to determine rents according to per square meter two dinars per square meter for housing in the Capital Governorate, KD 1.5 in Hawally, KD 1.250 in Farwaniya and 500 fils in Ahmadi and Jahra.

The proposal also states 35 percent will be added to the total rent value (based on square meter) to new buildings that have been built or rebuilt not more than three years ago and 25 percent to residential houses overlooking the seashore or those which are not more than 500 meters far from there, 10 percent of the basic rent shall be added to houses overlooking directly the main streets.

 

SOURCE : IIK

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