Last year saw a record high in real estate sales, which surged 18.5% year-on-year (y-o-y) to KD4.3bn ($14.3bn). Sales in the investment segment rose 30% to a value of KD1.8bn ($6.0bn), while residential sales increased 5% to KD1.9bn ($6.3bn).
Economic Update | Kuwait homes in on property market
Economic Update | Kuwait eyes investment surge
Long in the offing, a new FDI law, which aims to improve Kuwait’s business climate and reduce obstacles to market entry, is set to play a key role in underpinning investment growth.
Economic Update | Kuwait’s retailers face uncertain times
Long established as a destination for major brands, Kuwait has witnessed steady retail expansion in recent years, but falling oil prices and forecasts of a budget deficit risk clouding the outlook for 2015.
Economic Update | Kuwait Year in Review 2014
Non-oil growth and higher domestic consumption combined to drive up economic activity in Kuwait in 2014, although plunging world oil prices and relatively flat domestic production look set to weigh on the state’s finances.
Economic Update | Kuwait targets subsidy reforms
Plummeting oil prices have brought renewed calls for Kuwait to deepen its focus on diversifying its economy and reducing hydrocarbon dependency.
Economic Update | Kuwait suspends offset programme in investment drive
The decision to temporarily halt and revise the Kuwait Offset Programme (KOP), before reintroducing it next year, is widely seen as a sign of the government’s commitment to enhancing the business climate amidst fierce regional competition and following regulatory reforms.