Real Estate
From The Report: Kuwait 2014
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Although growth in real estate slowed during the global financial crisis, the sector subsequently rallied to become one of the best-performing non-oil industries in Kuwait. Following recovery in 2011 and 2012, real estate growth increased significantly in 2013, driven by rising residential demand and strong performance in the investment and commercial segments, as well as the revision of financing laws as part of efforts to support new buyers.

Articles from this Chapter

Overview

The sector turns to new greenfield developments
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Although growth in real estate slowed during the global financial crisis, the sector has rallied to become one of the best-performing non-oil industries in Kuwait. Following early recovery in 2011 and 2012, real estate growth increased considerably in 2013, driven by investment and the commercial sector’s performance, with expanding housing demand supporting growth in the residential sector. While the commercial segment had faced problems with excess supply, government investment and movement on…

Analysis

The dearth of supply means many Kuwaitis are waiting for government housing to be constructed
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The residential real estate sector has performed well in recent years, driven by a large undersupply of homes for Kuwaiti citizens, with the state’s growing population driving up demand and prices. The Public Authority for Housing and Welfare (PAHW) has rolled out ambitious plans for over 170,000 new affordable housing units, but with delays in housing delivery leading to a record backlog in housing applications, the residential segment is poised to witness sustained growth in the medium term. Residential…