KIB calls for the activation of the role of banks to provide funding for planned residential units
According to a recent report by Kuwait International Bank (KIB), the country’s real estate sector has seen noticeable activity in first quarter of 2012, with value of traded plots reaching around $3.21bn, up 49%from the corresponding period of last year.
January saw the highest number of sales, amounting to almost $1.28bn for 1,022 deals, followed by March with some $964.1m. In terms of the number of transactions, February came first with 871 deals generating a total of $962m.
KIB called for the activation of the role of banks to provide funding for planned residential units, as the figures reflect interest of medium-income investors in new districts where prices are generally affordable.