KUWAIT: Official sources at the Ministry of Commerce and Industry said there are plans to issue a decision to limit the job of real estate brokers to Kuwaitis, after discovering expatriates are in control of this profession. The supervision and inspection department claimed these expats have caused a significant increase in prices deliberately without any justification, adding “prices can be reduced very easily if they put their personal greed aside”.
The sources said prices at offices selling and leasing real estate suddenly increased significantly in a way that does not agree with natural and realistic prices and without having any links with local or international market variables. They are also not linked with consumer needs and demands, which means the prices are artificial.
Studies and research revealed that following an exodus of expats who worked in real estate offices due to the coronavirus pandemic, it was found that the remaining employees – the majority of whom are from one nationality – agreed over certain prices and decided to never lower them, because the higher the price, the larger the commission for them.
The sources said the commerce ministry noticed that Kuwaiti office owners do not know about this situation because expat workers take care of buying and selling, adding this made the price of a house worth KD 220,000 in Ferdous, Ardiya, Andalus, Dhaher, Sabah Al-Salem or Waha jump to KD 300,000 to KD 320,000, with this artificial increase in prices becoming a reality.
Meanwhile, Kuwait Fishermen Union is getting ready to receive a group of fishermen who were permitted to be hired by the Public Authority of Manpower (PAM), in response to the union’s demand to bring in workers due to the current labor shortage and food security needs, bearing in mind that many fishing boats are still idle due to a lack of workers.
Sources said the new workers are from Egypt and India, and the union will be allowed to bring in another group at the start of next year. Sources said the fishing sector represents an important part of the ministerial committee’s plans to ensure food security in Kuwait, and this will allow for bringing in expat labor in the animal husbandry sector (livestock and poultry).
They said the Cabinet will approve through the Public Authority for Agricultural Affairs and Fish Resources an increase in feed subsidies as well as boats operating for food security, after agreeing a government plan to increase animal and agricultural production. Those who do not comply will not receive any subsidies. The plan calls for having 100 sheep in a jakhour and 200 to 300 sheep at a farm. Some of them will be sent to the market for sale, and this will provide consumers meat at cheaper prices.