Kuwait Real Estate News
Officials to look into property issues
The Municipal Council Member, Faraz al-Mutairi, has revealed that he had discussed with Dr Fadhel Safar, the Minister of Public Works and Municipality, the failures by the ministry in issuing important realty documents to citizens.
Abyaar set to acquire new real estate company
Abyaar Real Estate Development has announced plans to acquire Sanam Real Estate Company listed on the Kuwait Stock Exchange, a spokesperson who spoke to Emirates Business revealed.
Kuwait property sector leveling out
Kuwait property sector has had a rough ride, just as its counterparts elsewhere in the region.
Kuwait sees steep increase in purchase of existing homes
In its latest economic brief on monthly statistics issued by Ministry of Justice (MoJ), excluding agent sales, the National Bank of Kuwait reports that property sales picked up in April.
Earnings of GCC real estate firms to shrink 20 percent
The Kuwait Financial Center, Markaz, in its recent research report which detailed the past trends in the earnings of GCC property companies, and assessed their future course, noted that the earnings of the real estate companies in GCC will shrink by 20 percent this year.
Real estate witnesses decline in prices in Q2 2009
The Kuwaiti property market witnessed an imbalance in supply-demand, and underwent a decline, particularly in certain areas within Kuwait City.
Prices of housing drops 50 percent in Kuwait
Prices of real estate properties particularly that of residential units have dropped by 50 percent, announced the Undersecretary of Commerce.
Al Mazaya signs deal to acquire First Dubai Real Estate
Al Mazaya Holding Company has entered into an agreement with Al Shall Consulting Company for carrying on consultancy services to acquire First Dubai Real Estate.
Major GCC economies likely to slip into recession this year
The International Monetary Fund (IMF) has slashed its growth forecast for the GCC and has predicted that the regions largest oil exporters which includes Saudi Arabia, Kuwait and the UAE, are likely to slip into recession this year.
Ministry warns violators of state property leasing contracts
The Ministry of Finance has declared that strict action will be taken on violators of leasing contracts for state property, irrespective of whether the contract has been signed between individuals, companies or institutions.
Kuwait records decline in property sales
In its latest economic brief on monthly statistics of registered real estate contracts, as issued by the Ministry of Justice, the National Bank of Kuwait, reports that the real estate sales remained weak in March, following a huge jump in February.
Al Mazaya announces leasing of 7 Zones project
Al Mazaya Holding has entered into contracts with several companies to lease the available areas at its 7 Zones project, which is now 100 percent complete for launch this August, with the grand opening planned in October.
Salhiya Real Estate reports KD35 mn loss this year
The Chairman of the Board of Directors and Managing Director at Salhiya Real Estate, Ghazi Al-Nefisi, said that the company losses this year amounted to KD 35.
Kuwait real estate sector signals major leap by year-end
The real estate sector in Kuwait has recently signaled the possibility of a major boost in the sector towards the end of the year.
Mayadeen posts $92million loss
The Kuwait National Ranges Company (Mayadeen) has plunged into a loss in 2008, due to the dropping value of investments in an affiliate, with the global crisis hitting the Gulf, including Kuwait.
