|15 June, 2019

Kuwait’s real estate deals generate $1.26bln in April

The number of transactions soared 31% MoM

Image used for illustrative purpose. Kuwait City Skyline, Kuwait.

Image used for illustrative purpose. Kuwait City Skyline, Kuwait.

Getty Images/Emad Aljumah

Mubasher: The value of real estate transactions in Kuwait surged a 33% month-on-month to KWD 385 million ($1.26 billion) in April on the back of the sales of commercial, residential, and investment properties.

The number of transactions soared 31% month-on-month in April, the highest level since 2014, recording 819, according to a report released by Kuwait Financial House (KFH).

The value of real estate transactions in the GCC country rose 15% in the first month of the second quarter from KWD 336 million ($1.105 billion) a year earlier.

Transactions in the residential, investment, and commercial segments increased in value by 16%, 67%, and 34%, respectively, in April compared to the comparative period in 2018, KFH’s data showed.

Real estate sales in Kuwait stood at KWD 789 million ($2.592 billion) in the first quarter of the fiscal year 2019, recording a quarter-on-quarter decline.

Source: Mubasher

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