Wednesday, August 22, 2018
Directory Directory Subscribe
Login
 

Kuwait's real estate sales hit $2.5bn in Q1

 
 

Please, enter data

Please, enter data

TradeArabia News Service, 12 June 2018

Kuwait's real estate sector witnessed a pick-up in real estate activity in the first quarter, driven in particular by strong sales in March, said a report.

Sales reached KD767 million ($2.53 billion) in the first quarter, of which 45 percent took place in March, according to a report by National Bank of Kuwait (NBK).

The pick-up at the end of the quarter was due to an increase in the number of transactions – perhaps helped by one-off factors and a sales rush ahead of the traditionally slow Ramadan and summer periods – coupled with a sharp rise in average transaction values in the investment sector, it added.

According to NBK, the first quarter saw KD298 million of residential sales, down 10 percent year-on-year (y-o-y), though the number of transactions rose 12.5 percent y-o-y to 928. Higher activity was likely helped by lower prices, possibly due to expectations of higher interest rates in the near-to-medium term, it added.

The top Kuwaiti bank said the investment property sales strengthened on the back of an increase in high value building transactions for the first three months.

Total investment sector sales stood at KD357 million in the first quarter of 2018, up 97 per over the same period last year, mainly driven by an 11 percent y/y increase in transactions.

However,  the rise was more importantly significant because of the average transaction size (85 percent y/y), reflecting a large number of building sales.

Contrary to the norm, the investment sector surpassed the residential sector as the leader in sales, with 47 percent of the total (by value) in the quarter, stated NBK in its report.

The commercial sector posted sales of KD112 million in the first quarter, up 45 percent over last year. This was driven by an 8.4 percent y/y rise in the number of transactions, combined with a rise in the quarterly average transaction size, it added.

TradeArabia News Service
12/06/2018

 

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Sisi ratifies ‘Egypt Fund’ for mega national projects
Egypt Today, 20 August 2018

Egyptian President Abdel Fatah al-Sisi ratified a new law No. 177 for 2018 to establish a new sovereign fund named “Egypt Fund”. The law was published ...

Read full story
Sisi ratifies  ‘Egypt Fund’ for mega national projects
Chevron signs deal on field development with Basra Oil Company
The National, 19 August 2018

Iraq’s Basra Oil Company and Chevron signed an agreement to start oilfield development, with plans for a new energy company and a refinery, according to the ...

Read full story
Chevron signs deal on field development with Basra Oil Company
Qatar's real estate sector records massive growth in June sales
The Peninsula, 16 August 2018

Despite the ongoing economic blockade imposed by some of Qatar’s neighboring states, the number of real estate transactions signed in June 2018 nearly ...

Read full story
Qatar's real estate sector records massive growth in June sales
25 consortiums interested in hydro-power production in Lebanon
Business News, 15 August 2018

25 consortiums interested in hydro-power production in Lebanon
Back to Home Page 2122 --- 0 <><><> 529.66666666667.....exvideo=0....eximage=0
P 1
BR 19

 
Entertainment KSA
3 - September 2018
The 2nd Annual Digital Transformation Summit
17 - September 2018
Future Traffic Security
24 - September 2018
Future Civil Defense
24 - September 2018
Global Road & Traffic Safety Forum - Abu Dhabi
24 - September 2018
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Iraq Agrofood Baghdad - 8 October - 11 October 2018  
  Project Iraq Baghdad - 8 October - 11 October 2018  
  Hospitality Qatar - 6 November - 8 November 2018  
  HQ - Food Qatar - 6 November - 8 November 2018  
  Food Africa Cairo - 8 December - 10 December 2018  
  Mac Fruit Attraction - 8 December - 10 December 2018  
  Project Qatar - 29 April - 1 May 2019  
  Beirut Boat - 30 April - 4 May 2019  
IFP Group Events Calendar

Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Beirut Boat
Energy Lebanon
Project Lebanon
Qatar
Hospitality Qatar
HQ - Food Qatar
Project Qatar
Iraq
Iraq Agrofood Baghdad
Project Iraq Baghdad
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2018 - © All rights reserved