Kuwait sees over 500 property deals worth 387 million dinars in May real estate surge

Statistics released by the Real Estate Registration and Documentation Department at the Ministry of Justice revealed that 530 real estate contracts were registered in May, totaling 387.3 million dinars (approximately $1.3 billion).

According to data published on the ministry’s official website, private real estate topped the transactions list with 390 properties valued at 158.6 million dinars (about $523 million). Investment real estate followed with 125 properties totaling 185.8 million dinars (around $613 million), reports Al-Qabas daily.

Other segments of the market included the commercial real estate — 6 contracts worth 22 million dinars ($72.2 million); crafts — 5 contracts totaling 11 million dinars ($36.3 million); shops — 1 contract worth at 3.5 million dinars ($11.55 million); warehouses — 2 contracts worth 4.4 million dinars ($14.5 million) and coastal strip property – 1 deal at 1.75 million dinars ($5.7 million)

In terms of geographic distribution, Ahmadi Governorate led with 181 contracts, followed by Farwaniya with 100 contracts, Hawalli with 96 and the Capital Governorate 67.