Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

No retreat in Kuwait real estate prices in 2nd quarter: experts  Join our daily free Newsletter

MENAFN - Arab Times - 01/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Wait city may 31 (kuna): the price for real estate in kuwait will still remain the same for the second quarter of 2014 despite efforts to find a solution for the housing problem a number of experts agreed. in separate statements to kuna real estate experts said that the government's efforts to find a solution to the housing problem might have eased the surge in real estate prices; however if words still remain words and no action is taken the problem will continue to exist. real estate expert ahmad behbahani told kuna that there were some positive reactions to official statements regarding the leasing of around 70 million square meters of land to build a housing project. despite that fact the decrease in real estate price will not occur unless some action is taken in reality said behbahani.

behbahani called for swift action to prevent prices from further escalating noting that price of real estate in some areas had sky rocketed to around kd 750 million. on his part head of the real estate union (reu) tafiq al-jarrah said that prices of real estate in new areas will stabilize but that does not mean that the same case will apply on other areas. providing land for housing does not mean that the area alocated was suitable for living because the process will take a long time to happen said al-jarrah who called for serious actions to end the hike in prices. echoing similar statements chairman of the board for the kuwait real estate clearing company abdulrahman al-habib said that the second quarter of 2014 will not witness any decrease in prices due to the lack of housing lands whether it was owned by the government or the private sector.

speculation in the real estate market also plays a negative role in further hiking the prices said al-habib who called for a method to organize and regulate the real estate market in kuwait. in regards to real estate business in the country head of real estate housing at drwaza al-safat real estate company ali al-safar said that activities in the market will slow down due to the summer vacation and the holy month of ramadan. demands exceeds the supplies in the real estate market; therefore there will be no decrease in prices unless the government provides more housing lands said al-safar noting that there was some real estate activity in newly constructed areas such as sabah al-ahmad coastal city which will witness some new offers for affordable housing lands in the near future.


 


Arab Times




  MENA News Headlines
 May 26 2016 - Saudi- Living cost index in the Kingdom rises 0.2% in AprilSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- The index of the cost of living in the Kingdom rose by 0.2% during the month of April 2016 compared to the previous month ...

 May 26 2016 - Governor of Riyadh Region receives Cyprus' AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh region, received here today the Ambassador of Cyprus to the ...

 May 26 2016 - Israeli warplanes launch raids on Gaza StripSaudi Press Agency
(MENAFN - Saudi Press Agency) Ramallah, 19 Sha'ban, 1437, May 26, 2016, SPA -- Israeli warplanes launched today a series of air raids on sites and targets in the Gaza Strip. Local security sources ...

 May 26 2016 - Saudi- Three dead, many injured in Mumbai chemical factory blastSaudi Press Agency
(MENAFN - Saudi Press Agency) New Delhi, Sha'ban 19, 1437, May 26, 2016, SPA -- At least three people have died and several have been injured in a huge blast at a chemical factory on the outskirts ...

 May 26 2016 - Turkmenistan's Deputy Prime Minister and Foreign Minister receives Member of Saudi Council of Economic Affairs and DevelopmentSaudi Press Agency
(MENAFN - Saudi Press Agency) Ashgabat, 19 Sha'ban, 1437,May 26, 2016, SPA --Deputy Prime Minister and Foreign Minister of Turkmenistan Rasit Meredow has received in the Turkmen capital, Ashgabat, ...

 May 26 2016 - Saudi Ambassador meets Algerian officialsSaudi Press Agency
(MENAFN - Saudi Press Agency) Algiers, 19 Sha'ban,1437 AH, 26 May,2016 , SPA - Saudi Ambassador in Algeria Dr. Sami bin Abdullah Al-Saleh visited here today the Governor of Algerian capital, Abdul ...

 May 26 2016 - Turkish flight to London makes emergency landing in BelgradeSaudi Press Agency
(MENAFN - Saudi Press Agency) BELGRADE, Serbia, Sha'ban 19, 1437, May 26, 2016, SPA -- Officials say a Turkish Airlines jet on a flight from Istanbul to London has made an emergency landing in ...

 May 26 2016 - Saudi- Team of King Salman Center for Relief delivers 200 tons of dates to MauritaniaSaudi Press Agency
(MENAFN - Saudi Press Agency) Nouakchott, 19 Sha'ban, 1437,May 26, 2016, SPA -- The team of King Salman Center for Relief and Humanitarian Aid handed over today the gift of the Custodian of the Two ...

 May 26 2016 - Finance Minister meets Sudanese Minister of InvestmentSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 19 Sha'ban, 1437,May 26, 2016, SPA -- The Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf met here today with the Minister of State at the Ministry of ...

 May 26 2016 - Welcome to Happiness Island Resort, Abu DhabiMENAFN Press
(MENAFN Press) The new beach destination, Happiness Island Resort, situated two minutes from Saadiyat jetty via speed boats, hosted an exclusive media sneak-peek last weekend. The ultimate ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help