Real estate improvements seen

14/04/2009 - Dubai Property News
Real estate improvements seen

The number of real estate sales completed in Kuwait in February increased, new figures indicate.

Figures from the National Bank of Kuwait indicate that there was a rise in the number of registered real estate contracts.

There was an 11 per cent increase in the number of transactions and a 28.6 per cent increase in the total value of transactions from the previous month, the findings from the bank show.

Real estate bank lending also increased during the course of the month, rising by KD186.7 million.

Such increases come following declines in the sector in previous months, possibly indicating that a turnaround in the sector is now beginning.

The commercial sector in particular saw an increase in the number of sales, Zawya reports, with sales increasing by a total of 207 per cent.

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