KUWAIT CITY, Jan 24: Real Estate Union Secretary General Ahmed Al-Duwaihis expects the Kuwaiti real estate sector to start recovering from the consequences of the coronavirus pandemic in the second half of 2021, especially since the impact of the pandemic on global economies will begin to diminish automatically after the success of the trial of the vaccine that started to be administered in Kuwait and the rest of the world, reports Al-Anba daily.

In an exclusive interview with the daily, Al-Duwaihis pointed out that the impact of the pandemic on the real estate sector varied according to the nature of each property. He disclosed the residential real estate sector witnessed a significant increase during the last period due to the scarcity of supply and high demand. The investment real estate sector has been somewhat affected, although the figures and statistics about the extent of its impact remain unclear; while the commercial real estate sector was the most affected as evident in the earnings of hotels, restaurants and transportation entities, not to mention the retail stores and other stores in this sector, he added