Kuwait’s real estate market surges in three days

Dubai: During the period from July 8 to 11, the Kuwaiti real estate market saw a significant uptick in activity, according to the latest weekly statistical report from the ministry of justice's real estate registration and documentation departments.

The report indicates that 93 properties changed hands during this timeframe, amounting to a total transaction value of approximately $300 million (Dh1.1 billion). This marks a notable 14 pet cent increase, translating to an additional $42.5 million (Dh156 million) compared to the previous week's total of $258 million (Dh947 million).

Of the properties traded, 64 were classified as private properties, with a combined value of around $137 million (Dh503 million) an increase of $52 million (Dh190 million).

Twenty four investment properties were registered for a total of $78.4 million (Dh288 million).

The report further details registrations for a warehouse property valued at $8.3 million (Dh30.4 million), a coastal property at $5.2 million (Dh19 million), and two commercial properties totalling $68.6 million (Dh252 million). Geographically, the Hawalli area led the transactions with a total value of $113 million (Dh415 million), surpassing other governorates in Kuwait.