KUWAIT CITY, June 29: Business owners in Kuwait are facing significant challenges due to the acute shortage of suitable storage spaces and warehouses, exacerbated by exploitative practices that have seen rents double or more in permissible storage areas, reports Al-Qabas daily. This issue, long-standing and worsening each year, recently came to a head following the Mangaf fire incident. The infrastructure for warehouses and available land has not kept pace with the growth of Kuwait’s business environment and increasing project demands.

Mohammed Jassim Al-Wazzan, Vice Chairman of the Board of Directors of Meezan Holding Company, criticized the government’s response, calling for a grace period of one to two years. During this time, he suggested establishing public warehouses for essential commodities, set at reasonable prices to prevent exploitation.

Riyadh Al-Baghli, General Manager of House Living Real Estate Development Company, emphasized that the fundamental solution lies in the government’s provision of new, affordable lands dedicated to warehouse use. He proposed that if direct government investment is not feasible, partnering with private companies could be a viable approach to expand storage infrastructure without burdening the state.

Omar Al Nasser, General Manager of Tawazun Real Estate Company, stressed the urgent need for storage facilities in urban areas to meet rising demand. He highlighted that current offerings in Kuwait fall short of international standards, describing existing spaces as inadequate for meeting market needs.

Fahd Al-Arbash, President of the Kuwait Federation for Restaurants, Cafes and Food Equipment, pointed out the practical difficulties faced by small business owners needing smaller storage spaces, contrasting this with the current requirement for large-scale facilities. He called for revised regulations allowing storage in investment areas under controlled conditions, advocating fair pricing to prevent exploitation.

The overall sentiment among stakeholders is clear: there is an urgent need for comprehensive reforms in Kuwait’s storage policies and infrastructure development. Addressing these issues effectively could alleviate financial burdens on businesses, ensure fair pricing for consumers, and bolster the economy while enhancing regulatory oversight to prevent exploitative practices.