Kuwait Real Estate News
Kuwait likely to grant land ownership to GCC investors
Citizens from other Gulf Arab states would be permitted to own land and properties in Kuwait, according to a proposal by the Kuwait Cabinet which aims to open up its real estate sector, Reuters reported.
Abyaar Real Estate to showcase new projects during forthcoming Cityscape Dubai 2008
Abyaar Real Estate Development, one of the leading property companies in Kuwait, is all set to display three new projects during the upcoming seventh annual Cityscape Dubai Exhibition 2008 due to be held between 6th and 9th October 2008.
Kuwait Property sector witnesses recession
Trading curbs and ownership restrictions are the cause behind slowdown in Kuwait property sector, when the property market at all other Gulf nations is booming thriving on windfall oil revenues.
Al Arabiya seeking arbitration proceedings against Sama Dubai
Al Arabiya Real Estate Company in Kuwait is seeking arbitration proceedings against Sama Dubai, following the sale of plots in the Lagoon project to Union National Bank, by the government-linked developer.
Abyaar unveils new corporate identity
Abyaar Real Estate Development, the Kuwait-based property development company, has unveiled its new corporate identity, which bears the calligraphic elements of a signature, which precisely signifies the defining characteristics of commitment to passion and precision, by the developer.
Kuwait realty market hoped to rebound during Ramadan month
Although the realty market in Kuwait has noticed a drop in activities during the past five months, it is hoped to rebound during the month of Ramadan, revealed a market expert last week.
Kuwaiti Realty Company Agility reveals expansion plans
National Real Estate Company of Kuwait, a major investor in logistics firm Agility, has announced plans to expand into markets from Syria to South Africa, and is proposing the sale of Islamic bonds later this year.
Kuwait records 50 percent rise in property sales in July
The property sales in Kuwait jumped to KD162mn in July 2008, which marks a 50
percent rise over the figures of previous month, reports the National Bank of
Kuwait (NBK) in its most recent economic statement.
Performance of Kuwait realty market likely to decline
According to the real estate sales report by the Ministry of Justice – Real Estate Registration and Certification Department, the performance of realty market in Kuwait declined during the second quarter.
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.
Kuwait Housing Authority to build 824 houses
The Public Authority for Housing Welfare in Kuwait has entered into contracts to build 824 houses and government buildings in Saad Al-Abdullah City for total value of KD56.
Mushaa Real Estate Company specializes in joint-sukook Real Estate
Global Investment House (Global) has announced the launch of Mushaa Real Estate Company, with a capital of KD30million.
Kuwait property sales dip by 28 percent
The real estate sales in Kuwait dropped by28 percent in June 2008, marking the third consecutive month of decline, ever-since the state imposed restriction on residential real estate transactions, hoping that it would tackle record inflation.
Banks permitted property speculation
The Fatwa Department of the Ministry of Awqaf, during their General Assembly, announced that all banks, irrespective of whether they are Islamic ones, can practice property speculation.
Major drop in sales seen in Kuwait realty sector for second consecutive month
Kuwait witnessed a major decline in property sales for the second consecutive month, following the new government regulations in the sector.
