Kuwait real estate trades reach KD 323 mln in June

KUWAIT CITY, July 8: Statistics released on Tuesday by the Real Estate Registration and Documentation Department at the Ministry of Justice show that 599 properties were traded during June, with a total value of approximately KD 323 million (around $1 billion), reports Al-Seyassah daily. According to the statistics, published on the ministry’s website, private residential properties accounted for the largest share of transactions, with 458 properties worth KD 167.1 million (around $551.4 million). Investment properties followed, with 126 transactions valued at KD 93.7 million (around $309.2 million), while commercial properties recorded 11 transactions worth KD 57.5 million (around $189.7 million). The transactions also included one warehouse contract valued at KD 2.3 million (around $7.5 million), one coastal strip contract worth KD 1.6 million (around $5.2 million), and one craftsmanship property contract valued at KD 700,000 (around $2.3 million). The statistics showed that Ahmadi Governorate recorded the highest number of transactions with 282 contracts, followed by Hawally Governorate with 105, Jahra Governorate with 68, Mubarak Al-Kabeer Governorate with 52, Farwaniya Governorate with 49, and the Capital Governorate with 42 contracts.