Statistics from the Real Estate Registration and Documentation Department at the Ministry of Justice revealed that 4,950 real estate contracts were traded in Kuwait in 2024, with a total value of 3.7 billion Kuwaiti dinars (approximately 12 billion US dollars).
The statistics published on the Ministry of Justice’s website today, Tuesday, 7th January, revealed that private real estate contracts ranked first in 2024, with 3,527 properties valued at approximately 1.5 billion dinars (around 5 billion US dollars).
The investment in real estate contracts ranked second, with 1,218 properties traded at a value of 1.2 billion dinars (approximately 3.9 billion US dollars). Commercial real estate saw the sale of 135 properties valued at 745.4 million dinars (around 2.5 billion US dollars), while 34 craft properties were traded at a value of 48.4 million dinars (about 159 million US dollars).
The statistics showed that 9 properties (showrooms) were traded for 45.5 million dinars (about 150 million US dollars), while 14 warehouses were sold for a total of 27.2 million dinars (around 89.7 million US dollars).
Additionally, one bank branch was traded for 9 million dinars (about 29.7 million US dollars), and 12 properties on the coastal strip were sold for approximately 77.6 million dinars (around 256 million US dollars).
The statistics highlighted the geographical distribution of transactions in 2024. In the Capital Governorate, 478 private real estate contracts, 123 investment real estate contracts, and one bank headquarters contract were traded.
Hawalli Governorate saw the trading of 617 private real estate contracts, 395 investment in real estate contracts, and 24 commercial real estate contracts.
Meanwhile, Mubarak Al-Kabeer Governorate recorded 471 private real estate contracts, 115 investment real estate contracts, 11 craft real estate contracts, and 10 coastal strip real estate contracts.
Farwaniya Governorate saw the trading of 434 private properties, 127 investment properties, 20 commercial properties, and 13 craft properties. Additionally, three exhibition properties and 14 warehouses were traded in the governorate.
Al-Ahmadi Governorate saw the trading of 1,190 private real estate contracts, 453 investment in real estate contracts, 41 commercial contracts, 10 craft contracts, and two coastal strip contracts.
Meanwhile, Al-Jahra Governorate’s trading was limited to 337 private real estate contracts, 5 investment real estate contracts, and 7 commercial real estate contracts.
Source: Al Qabas
