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  • 28-04-21

    Kuwaiti banks lending to property sector drops in Feb., Jan. 2021

    (MENAFN)According to Al Arabiya, Kuwaiti banks lending to the property sector dropped in the first quarter of the year.

    By the end of February, Lending dropped 64.6 percent to 224.6 million Kuwaiti dinars in comparison to 692.5 million Kuwaiti dinars in December last year.

    Al Arabiya further reported referring to Kuwait Central Bank monthly data, mortgage finance fell by 16.8 percent in February current year as compared with January.

    The regional property market was hit by the Coronavirus pandemic and persistently weaker oil prices that have reduced consumer demand for new homes in some Gulf States.

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