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Saturday , February 27 2021

‘Rents’ increased by 100%

KUWAIT CITY, June 23: CBRE, a global real estate consultancy firm, has stated in its report that the rents of deluxe commercial real estate in Kuwait City have returned to the levels witnessed in 2008, which were the highest so far, reports Al-Qabas daily.

According to the report, the monthly rent during the first quarter of 2018 reached KD 14 per square meter in the distinctive buildings in the city, which is a 100 percent increase compared to the 2012 figures.

The occupancy rates of commercial office spaces of Class A category have reached a record high of 95 percent compared to 60 percent in 2011.

There is an increase in demand for quality office space in the capital. There is approximately 250,000 square meters of premium office space of Class A category currently available for rent within the central business district of Kuwait City.

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