Kuwait’s real estate sales surge 16% in February: NBK

Kuwait’s real estate sales climbed 16 percent to KWD 284 million ($933 million) in February, according to a report released by the National Bank of Kuwait (NBK) on Saturday.

Such increase resulted after commercial property sales went up KWD 100 million ($328 million), while the number of transactions declined by 30 percent MoM, the report found.

Moreover, sales of residential properties stood at KWD 110 million ($361 million) February, while the sale of investment property decreased to KWD 74 million ($243 million).

Kuwait’s inflation grew 0.6 percent year-on-year (YoY) in February, compared to 0.4 percent YoY in January, the NBK’s data showed.