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Record number of real estate deals expected
Real estate news By Kuwait Times
September 23, 2007
KUWAIT: A specialized real estate company predicted yesterday a record rise in the number and size of real estate deals until the end of this year due to the start of the season of real estate exhibitions. The Mutakhasses (Specialized) Real Estate company said in a regular weekly bulletin that Kuwait would start its property exhibition season before the return to work from the summer holidays.
Moreover, the start of the holy month of Ramadhan coincides with the return to work. "This is due to boost the movement of real estate deals specifically since some investors avoid risking their money during Ramadhan," the report said. It added that the real estate sector was now an "important factor in the current economic revival phenomenon throughout the Arab region in general and in the GCC area in particular.
The report pointed out that the GCC area has become a key area for real estate investments. It added that the boost in the real estate sector in the GCC area was due to this region's "political stability and economic prosperity." The report indicated that an increasing number of international investors were now flocking to such annual real estate fairs in the GCC area in search of deals to strike or to learn about deals made by other parties. - Kuna
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