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The Kuwaiti real estate market has slightly up – Economics & Business Channel
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The Kuwaiti real estate market has slightly up

العاصمة الكويت

Kuwait as it is considered the fourth largest oil producer in the OPEC exporters, so the world big companies are looking to invest and try to verify the investment either in oil production, industry, real estate or other kinds of the investment climate in Kuwait.

 

The Kuwait Government besides the oil sector investment also encouraging the real estate sector too and working hard to supply the demands of the markets. As far as the Kuwait state expand and the family number widen. So the need for developing and expansion the real state sector is urgent for now.
The government announced in March 2013 that 174,000 new housing units for Kuwaiti citizens by 2020 will be accomplished. 12,000 units were delivered in 2015.

 

In Kuwait real estate sales and lending are on the rise according to a report published by the National Bank of Kuwait (NBK) in last month, and the private investment is expected to create new opportunities.

Lending banks in Kuwait supports this sector and provides credits to the big projects investment, because residential sales increase year-by-year sales reached KD261mn ($865mn) in February, up 22 percent over January and a 17 percent. Investment performed fine in February reaching KD90mn ($298mn) also, The National Bank of Kuwait stated that Investment property sales rose by 5.8 percent to KD93.9m ($311m).

Citizens of Kuwait are empowered to government-subsided housing after marriage. The loans from Credit Bank (KCB), which provides home-building loans and mortgages to the Kuwaiti nationals, jumping by 51 percent in February 2016 to hit KD23m ($76m).

EBC TV