Kuwait Finance House: Real Estate Finance Drives 10.7% Surge in Housing Applications

- 78.2% completion rate for main roads in southern Sabah Al-Ahmed

- 65.1% progress in road maintenance contracts in southern Saad Al-Abdullah

- 43% completion of affordable housing units

- 276 buildings completed in Al-Mutlaa, affordable housing, and Sabah Al-Ahmed

- 3 new construction contracts worth KD 29.9 million

A report by Kuwait Finance House on the local real estate market for the second quarter of 2026, focusing on government and residential projects, indicated that the Public Authority for Housing Welfare continues to meet citizens’ demands for suitable housing. According to the authority’s latest report on its housing projects in June 2026, the number of pending housing applications reached 108,000, representing a 10.7% increase compared to the last statistics announced by the authority in the third quarter of 2025.

The report attributed this increase to citizens’ keenness to benefit from the anticipated real estate financing law. During May 2026, the authority provided over 42,000 services to citizens, reflecting an increase in the authority’s operational and service activity. It also announced that the first phase of the Real Estate Developer Program attracted interest from the private sector, with the announcement of the qualification of real estate developers for the first three residential projects expected soon.

The report noted that the authority made tangible progress in completing some planned projects during the second quarter of 2026, and announced the launch of several tenders for the implementation and completion of infrastructure in new cities. These include main roads in southern Sabah Al-Ahmed, with a completion rate of 78.2%. Actual completion rates for infrastructure contracts reached 52.6%, and 54.7% for the second contract. The authority also made progress in maintenance contracts for main roads in southern Saad Al-Abdullah city, reaching 65.1%, and made significant progress in the implementation of the affordable housing project, with a completion rate of 43%. The authority is implementing approximately 276 public buildings across various housing projects, including 170 buildings in Al-Mutlaa city, 74 in affordable housing, and 17 in Sabah Al-Ahmed.

The report also indicated that the authority signed some new contracts during the second quarter of 2026, including three new construction contracts with a total value of KD 29.9 million, as part of infrastructure development projects in Al-Mutlaa residential city and affordable housing. These contracts aim to develop the main road network and enhance electricity supply.