Broker strikes historic real estate deal

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KUWAIT CITY, Jan 25: A broker has struck a historic multimillion real estate deal by selling a huge commercial complex (1,600 square meters) located in Jahra for KD20 million with 7.8 percent return, reports Al-Qabas daily.

It is worth mentioning that the report of Kuwait Finance House (KFH) for the third quarter of 2019 showed the average return of the commercial real estates in Jahra Governorate had stabilized by recording 7.9 percent, which was lower than the investment real estates – 8.3 percent.

The report indicated increase in the average price per square meter of commercial real estate in the governorate to KD2,840 by the end of the third quarter to record 0.7 percent increase compared to the second quarter that recorded a remarkable increase of eight percent. By the end of the third quarter, prices rose in most areas in the governorate compared to the second quarter, the report added.

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