Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait real estate market liquidity drops 22.8 pct  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 17/02/2013

No. of Ratings : 0
Add to Mixx!


(MENAFN - Kuwait News Agency (KUNA)) The Latest available data from the Ministry of Justice, Department of Real Estate Registration and Authentication, for January 2013, indicated a noticeable drop in real estate market liquidity compared with December 2012, a specialized economic report revealed here Saturday.

"The total value of contracts and agencies trading scored about KD 302.7 million, down by 22.8 percent from December 2012 value of about KD 392.2 million," reads the report, by Al-Shall Economic Consultants.

The report noted that January 2013 trading was distributed as follows: KD 260.6 million for contracts and about KD 42.1 million for agencies.

"Contribution value of private housing sale dropped slightly out of total sales and registered KD 161.1 million (53.2 percent) compared with KD 213.8 million (54.5 percent) in December 2012, achieving a drop by 24.7 percent and a drop in its contribution to the total," the report noted.

The data also showed that the value of investment housing sales scored about KD 94.4 million (31.2 percent) of total sales, versus 33.2 percent in December 2012 when they scored KD 130.4 million.

"This means they achieved a drop by 27.6 percent and a drop in their contribution in the total. Value of commercial activity sales scored about KD 50 million and its contribution to the total sales rose to 13.5 percent (11.4 percent in December 2012) while its absolute value dropped by 8.1 percent below its counterpart value in December 2012.

"Absolute value of warehousing activity went up by 83.8 percent vis-a-vis December 2012. Likewise, its relative contribution out of total sales rose to 2.1 percent compared to 0.9 percent in December 2012," added the report.
Al-Shall noted that the decline has negatively impacted the private and investment housing.

"If we compare January 2013 trading with that of January 2012 we note a drop in the real estate market's liquidity from KD 345.2 million in January 2012 to KD 302.7 million in January 2013, a drop by 12.3 percent.

"The decline also affected the private and investment housing by 13.6 percent and 28.7 percent respectively. Private and investment housing components captured 84.4 percent of the market liquidity in January 2013 (92.3 percent in January 2012. Comparing the last 12 months' trading (February 2012 - January 2013) with the trading in the period (February 2011 - January 2012), we notice that value of contracts and agencies between February 2012 and January 2013 scored KD 3.29 billion vis-a-vis KD 3.01 billion for the previous period achieving a rise by 9.2 percent." Moreover, the report showed that the rise also affected the private and investment housing, the commercial activity and warehousing, which rose by 13.

4 percent, 1.4 percent, 14.2 percent, and 66.1 percent respectively.
With regard to the Kuwait Stock Exchange (KSE) performance last week, the report noted that the KSE performance was less active, where all the indices showed a decrease, and the general index showed a decrease too.

"Al-Shall Index (value weighted) closed at 446.7 points at the closing of last Thursday, showing a decrease of about 1.3 points or about 0.3 percent, and an increase of 8.5 points or about 1.9 percent compared to the end of 2012, " the report said.


  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Australian Federal Parliament Deputy Speaker Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Canberra April 24 - Australian Federal Parliament Deputy Speaker Bruce Scott met here Thursday with HE Qatar's Ambassador to Australia Yousef bin Ali Al ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 2014US Secretary of State Meets Egyptian Intelligence Chief ,Qatar News Agency
(MENAFN - Qatar News Agency) shington April 24 - US Secretary of State John Kerry has met with the Egyptian Intelligence Chief Major General Mohammed Ahmed Fareed al-Tohami who is currently ...

Apr 24 2014Egypt's Interim President Receives Phone Call from South African President ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egypt's Interim President Adly Mansour has received a telephone call from President of the Republic of South Africa Jacob Zuma in which they discussed ...

Apr 24 20143 GCC countries among top 30 on network readiness index ,MENAFN
(MENAFN) According to an annual global technology survey for network readiness index for 2014, three GCC countries have made it to the top 30 list for the third year in a row, Gulf Daily News ...

Apr 24 2014Morocco Admitted As Observer Member to SICA ,Qatar News Agency
(MENAFN - Qatar News Agency) La Romana Dominican April 24 - Morocco has been admitted as an observer member in the Central American Integration System (SICA) which also includes each of Belize ...

Apr 24 2014Sharjah Ladies Club organizes "Sharjah Ladies run" at the University City ,MENAFN Press
(MENAFN Press) Sharjah Ladies Club gears up to launch "Sharjah Ladies run" at the Sharjah University City. With over 250 participants, the activity aims to encourage women and enable them to ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help