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Kuwaitis investing more on foreign properties

The Undersecretary of Ministry of Commerce and Industry in Kuwait, Abdulaziz Al-Khaldi, reported that there is a huge surge in purchase of properties in foreign countries by Kuwaitis, particularly in Arab Gulf States and Turkey.

Following the launch of Real Estate, Investment and Building Exhibition in Kuwait, Al-Khaldi attributed the jump to attractive offers of the concerned states, and incentives to people in Kuwait and investors.

The official emphasized a recent remarkable growth in purchase of properties in Turkey by Kuwaitis. He mentioned that Turkey has been encouraging Kuwaitis to own housing units in its cities, facilitating all property acquisition measures.

He also emphasized that the Ministry organizes such property expos that help would-be purchasers in finding their needs with plenty of offers to choose from both local and foreign markets.

The Chairman of the Top Expo, organizer of the exhibition, Sheikh Malek Al-Sabah revealed that 32 Kuwait and foreign property companies have been participating in the exhibition. He threw light on the revival of property market in Kuwait and abroad, following a long period of recession, owing to global financial crisis.

The Chairman of Murabahat Real Estate Solutions Company, Mohammad Kaheel, who participated in the expo, mentioned that the event is a golden opportunity for property developers to meet their clients and acquaint them with the latest offers.

He said that his company is offering real estate investment projects in the Kingdom of Turkey, Saudi Arabia and Egypt.

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