Kuwait records 12% YoY rise in July real estate sales

Real estate sales in Kuwait for the month of July registered an 11.8% year-on-year (YoY) growth, reaching $535.7m (KWD161.5m)

Kuwait's real estate sales in July reached $535.7m [representational image].
Kuwait's real estate sales in July reached $535.7m [representational image].

Real estate sales in Kuwait for the month of July registered an 11.8% year-on-year (YoY) growth, reaching $535.7m (KWD161.5m).

Citing a report published by the National Bank of Kuwait (NBK), Kuwait News Agency (KUNA) said that real estate transactions have grown by 30% since the beginning of the year.

According to the report, the performance of the country’s real estate industry was largely supported by the residential sector, which recorded $299.5m (KWD90.3m) in sales in July, a 43.4% rise compared to the same period last year.

The bank’s report also revealed that the sector logged 268 transactions, a quarter of which were plots, while the rest were mainly housing units.

Activity was well distributed in a number of areas, although more than 30 transactions were recorded in Abu Ftaira and Sabah Al-Ahmad Sea, KUNA added.

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020