Kuwait Real Estate News
Kuwait enters into its biggest ever property deal worth KD 57million
According to announcement by a real estate office in Kuwait, a deal worth KD 57 million for purchase of Salmiya Southern market was carried out yesterday, and is considered to be the biggest ever real estate deal in Kuwait.
The owner of the office, Saud Fahoud Al-Mutairi, said that he entered into the deal with owner, representing Sheikh Khalid Al-Yousif, purchasing the land of 22,000 square meters, which includes empty lots and rented shops.
A huge real estate project is expected to come up on the property comprising a big fifteen storey mall with restaurants, shops, play area and parking-lots.
The entire concept of the mall will be a surprise, as it will be first of its kind in the region, said Al-Mutairi.
The project, designed by International Architecture Companies, will begin construction in 2008 and will be completed by end of 2009.
Social Bookmarking
Read more news
> Property markets in GCC region to remain pressurized in 2012
> Kuwait property sector gathers pace following summer slowdown
> Kuwait realty sector post profits
> Kuwait records decline in expat count
> KAMCO report reveals positive indicators for Kuwait realty sector
> Majority of Kuwaitis investing in Dubai properties
> Latest Kuwait property sales report indicates improvement in the sector
> Increased demand for properties in Kuwait realty sector
> Property experts seek private sector support to develop housing sector
> KFH launches promotional campaign to finance residential real estate