Flurry of activity in real estate market

KUWAIT CITY, Feb 20: The local real estate market witnessed a flurry of activity worth 38.3 million dinars (the equivalent of 126 million dollars) through a real estate auction held by the Ministry of Justice to sell one of the palaces in the suburb of Funaitees, reports Al-Anba daily.

A reliable source told the daily, the palace is located on the coastal strip and on the other side is the Fahaheel Highway. The sources said that the total area of the palace is 65.8,000 meters, and that a number of auctions were carried out yesterday that included a house in the Salam region worth 450,000 dinars, while the contract for 4 other auctions was postponed.