Kuwait Real Estate News
Kuwait property market likely to level-off in two years
The real estate market in Kuwait may see a leveling off during the next two years, and thereafter, a substantial increase may be expected. Within two years, the prices may stabilize, and probably, may begin to come down, said Khalid Esbaitah, the CEO of Al Mazaya Holding, during an exclusive interview with The Report: Kuwait 2008, an annual business guide by Oxford Business Group (OBG).
The cost of inflation of Mazaya projects is minimal, due to the company’s two-point strategy, in developing for the consumer, and expecting long-term income generation.
Esbaitah pointed out the vital importance of making land available for future generations. Although it depends on each sector, on average, the cost of land, as part of a project, runs around 60 percent, in few cases, it can get higher, even upto 89 percent.
Most projects in Kuwait have not been affected by lack of infrastructure, but, major issues needs to be addressed, especially pertaining to conservation, Esbaitah noted.
“There must be clear idea about population growth, so that, you can forecast demand on the infrastructure,” he said.
The report carried a comprehensive review about the business and economic environment available in the country, with sector overviews and analysis, supported by interviews and viewpoints. OBG, together with several local partners, have compiled the research.
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