KUWAIT CITY, Jan 15: The Ministry of Justice has issued a new directive to all notaries in the real estate registration and documentation sector, forbidding the issuance of debt, guarantee, or surety statements on behalf of Kuwaiti citizens in favor of any non-Kuwaiti, reports Al-Seyassah daily. This circular, which came into effect on January 12, 2025, aims to regulate and streamline real estate transactions involving Kuwaiti citizens.

According to statistics from the Ministry of Justice, real estate transactions in Kuwait saw a significant increase in 2024, with a 30 percent rise in the total trading volume. The total value of real estate transactions reached approximately 3.733 billion dinars, an increase of 1.127 billion dinars compared to the 2.606 billion dinars recorded in 2023.

Additionally, the number of real estate transactions grew by 14 percent, with 4,950 transactions in 2024, compared to 4,241 transactions the previous year. Real estate sectors experienced varying levels of growth, with some showing increases of up to 90 percent. However, the coastal strip sector witnessed a decline, with a drop in trading volume by 44 percent.