Kuwait’s real estate market is expected to recover within the fourth quarter of the current year after stagnation in the summer, developers told the Kuwait News Agency.
Prices of commercial property are currently stable while the demand is regular, secretary of Kuwait Real-Estate Union Qais Al-Ghanim stated.
However, the property investment sector is unsteady and is expected to stay volatile until early 2020, Al-Ghanim added, noting that the housing sector is seeing growing demand.
Demand on the industrial sector is also growing, director general of Athraa Real-Estate Company Maitham Al-Shakhs revealed.
The top official said that the real estate sector remains a safe haven for entrepreneurs despite regional tensions.
Kuwait’s property trades recorded over KWD 1 billion during the second quarter of 2019, growing 17 percent quarter-on-quarter and 18 percent year-on-year, according to a report by Kuwait Finance House.