Properties for Exchange in Abu Fatira (1 Ads)

Abu Fatira is a residential area in Mubarak Al-Kabeer Governorate in the State of Kuwait. It was named in relation to the land breaking out due to the growth of the large fungus under the surface of its land in the spring season. Abu Fatira consists of 8 blocks, and it is dominated by villas and houses that are owned and inhabited by Kuwaiti citizens. A large proportion of the homes in the area have been subdivided internally into separate apartments for rent. Usually, each floor in the house is divided into two separate apartments, so that each house includes 2 or more apartments, and these apartments are offered for rent.

In this section of Bo shamlan website, you can find many advertisements of real estate for exchange in Abu Fatira, where exchange has become one of the most important deals in the real estate sector because of the advantages it provides to the two contracting parties. The Public Authority for Housing Welfare issues decisions to stop or open the door of the external exchange as well as the internal exchange as it deems appropriate and may exclude some areas from its decisions. Likewise, the Mutlaa residential area was excluded, knowing that the people of the city demanded the opening of the exchange to create competition in supply and demand, and more options are available to Kuwaiti citizens, and the advantage of the external exchange before building orders for everyone who owns land encourages the citizen is to enter into housing projects and not wait. There are many requests from the institution to issue a decision allowing the opening of the external exchange, as well as the internal exchange allowed in some residential areas, especially since the institution has started other new projects that some Kuwaiti citizens may have a desire for, so opening the external exchange is somewhat facilitating for Kuwaiti citizens, and it will replace part from the housing crisis.

It is possible to find houses and lands for the exchange in Abu Fatira with different prices, benefits, and locations, but the Public Authority for Housing Welfare is the one who sets controls and conditions for the exchange and changes them as it deems appropriate. For example, limiting the number of exchanges or assignments in the plots so that it is only one exchange or once assignment and with the consent of the Kuwaiti wife and divorcee who have the right to housing. It is also possible to request a clearance from the real estate loan and pay all due installments for the housing alternative until the date of replacement or assignment, and submit a certificate from the Ministry of Commerce and Industry regarding construction materials for the beneficiaries of the Kuwait Credit Bank loans for construction.
Note: You must inquire with the concerned authorities in the country, as well as the Public Authority for Housing Welfare, and make sure that all procedures and regulations are formally followed.