Kuwait's real estate market witnessing moderate trading
Kuwait, Economics, 8/6/1997

A real estate report said that the real estate market in Kuwait was witnessing moderate trading in the housing, investment and commercial levels.

The report stated that the real estate sector, especially on the investment and the commercial levels, is expected to pick up in the second part of the summer due to the trend of establishing real estate funds.

One of the factors that revived trading was the fact that the Kuwait Investment Company was allowed to form a real estate fund to purchase 18 million Kuwaiti dinars worth of real estate from the Kuwait Investment Authority.

The report said that the formation of real estate funds would encourage small investors to deal in the market.

It said that Municipal Council approval for the transformation of the Sharq area from a private housing to an investment area would also help revive the market.

The report said that lands totaling 50,000 square meters were sold for a price of 1.15 million Kuwaiti dinars in addition to a 650 square-meter property in Southern Kuwait city for 75,000.

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