ArabianBusiness.com - Middle East Business News
Tuesday, 02 December 2008 21:43 UAE time

YOUR DIRECTORY /

Print this page Print this page | Email this to a friend Email this to a friend | Discuss this article (0 Comments) |

Kuwait property sales in July up 50% month-on-month

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 28 August 2008
KUWAIT CITY: Deals are down both in terms of volume and value on 2007. (Getty Images)

July property sales in Kuwait jumped 50 percent by value from the previous month, amounting to 162 million dinars in 649 deals in July, official news agency KUNA said on Wednesday, quoting a report from the National Bank of Kuwait (NBK).

The report attributed the big increase to the number of residential units sold which grew by 82 percent while, the number of commercial and investment units sold in the month remained virtually unchanged, it added.

The average volume of sales in the sector in the first seven months of 2008, however was 25 percent down on the corresponding period of last year, according to the report.

The number of deals struck iin July was also 28 percent lower than in 2007, it said.

Story continues below
advertisement

The scheduled loans of the Savings and Credit Bank grew by 3 percent in terms of volume and 9 percent in terms of value in July compared with the previous month figures.

The number of loans approved by the Savings and Credit Bank in July, 2008, rose to 479 from 378 in July, 2007. The report said that 61 percent of loans by value are for residential units.

Print Print | Email Email | Discuss this article |


READERS' COMMENTS



Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code * Code


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

more » MIDDLE EAST MARKETS DATA

NBK.KSE

Last Price:

1.48

-0.06-3.90%

2 Dec 2008 09:28 GMT
(Market Closed)

CURRENCY CONVERTOR

RELATED LINKS

  1. National Bank of Kuwait (NBK)»

 EMAIL ALERTS

  1. National Bank of Kuwait (NBK)

  2. Real Estate



EMIRATES ID DOWNLOAD

READER COMMENTS

  1. Nakheel mulls $15bn IPO move - reports 2
    02 Dec ' 08 at 11:25
    In my view, this about-turn is really making things worse. First they're not affected. Woohoo we're building the world's tallest...  More »
  2. $95bn Satwa redevelopment delayed 2
    01 Dec ' 08 at 23:32
    rents WILL go down with the property market.as home owners struggle to sell, they will be forced to rent.this combined with all of the...  More »
  3. Merrill gives Emaar AED3 price target 1
    01 Dec ' 08 at 22:36
    thanks for the great assessment of emaar's stock merrill... it's much easier to make an assessment after the fact isn't it.where were...  More »
Read all user comments >

BUSINESS FEATURES

The Russia route

Rajiv Shah went along to find out if the nation looks set to become the next big arena for property investors.

Caught in the trap

With repossessions looming large on the horizon, Alex Delmar-Morgan reports on what the banks need to do.

Prestige properties

Get ready for major communities dedicated to well-being as the region steps on the pampering pedal.

BUSINESS INTERVIEWS

Strength in numbers

Property prices are declining but Mark Stott, CEO of Select Property, is still feeling confident in his company.

Real estate industry at the crossroads

The regional head of the world's largest property services firm on the outlook for local property markets.

Berth boom

Michael Horrigan of IGY Middle East and Europe explains why it's plain sailing for marina developments.

MORE FROM ARABIANBUSINESS.COM