Kuwait mortgage market hits KD 22.8m in Jan

Loans allocated for construction of private residential units at KD 2.1m

KUWAIT CITY, Feb 4, (KUNA): Mortgage loans at Kuwait Credit Bank (KCB) were worth KD 22.8 million ($74.9 million) in January, according to official statistics released by the bank on Monday. KCB’s real estate portfolio was valued KD 128,03 ($422,000), while loans allocated for the construction of private residential units stood at KD 2.1 million ($6.9 million), the statistics showed. Loans for government-owned properties hit KD 12.7 million ($41.7 million) it added.