Kuwait real estate contracts surge by 37% in January ’24

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KUWAIT CITY, Feb 7: The total value of real estate contracts registered with the Ministry of Justice during January 2024 was about 268.16 million dinars, rising by about 37.02% from its level in the previous month of 195.71 million dinars, reports Al- Seyassah daily. Statistics issued by the Real Estate Registration and Documentation Department at the Ministry of Justice indicated that contracts for 411 properties were traded during the past month. Trades were distributed among the six governorates, led by private real estate. This is 309 properties worth 141.38 million dinars, investment real estate with about 91 properties worth 76.91 million dinars, then commercial real estate with 8 properties worth 43.2 million dinars, two properties in the craft sector worth 4.55 million dinars, and a property in the warehouse sector worth 2.11 million dinars. The Al-Ahmadi Governorate had the largest number of real estate deals, with about 148 properties, while a smaller number of deals were executed in Al-Jahra Governorate, with only 15 deals. Kuwait did not witness the registration of any agency contracts for this month.

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