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FinancialNews
21-07-19
Kuwait locks USD5.9b in real estate transactions
(MENAFN) Kuwait International Bank (KIB) announced the GCC nation to have stood at USD5.9 billion in the overall value of its real estate sales during this year's first half.
From January to June, the volume of real estate deals in Kuwait reached 3,539 compared to last year's 2,973, as the Kuwait News Agency (KUNA) reported.
KUNA affirmed that "the improvement in the market performance was mainly supported by the residential and commercial sectors. Residential sales for the first half of 2019 rose by 24% year-on-year to reach KD 790 million ($2.6 billion)."
KIB also unveiled that "the sales of the investment sector fell by 18% in the first half of 2019 due to the relatively weak performance recorded in the first quarter of this year, pointing out that the investment sector recorded sales levels similar to those recorded in the second quarter of the year 2018."
MENAFN2107201900450000ID1098782754
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