Kuwait Real Estate News
Kuwait real estate market stable
Kuwait Finance House (KFH) said that although real estate market was stable during second quarter of 2009, buyers and investors have been cautious.
KFH hopes that trust and action would return to real estate market, particularly for investment in real estate, as it contribute by way of generating high profits.
As for the commercial real estate market, the deals decreased by nearly 50 percent and prices dropped owing to global economic crisis, KFH points out.
KFH, being the main generator of economic activities, called the government to invest in property sector, and emphasized that it was vital for the government to pump exceptional investments into the infrastructure sector of Kuwait.
The investment environment in Kuwait needs to be improved, the bureaucracy in government bodies should decrease and private sector needs to be encouraged, so as to engage in housing and trade activities, with the establishment of new industrial and residential areas and cities, it added.
Kuwait had the lowest spending rate in the region, which is less than 5 percent, while in Saudi Arabia the figure is hoped to increase to about 15 percent during 2009 and 2010 and to more than 10 percent in Oman, the economic reports state.
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