GulfBase GCC Cap Indices
IndexLevelChg%
Large Cap4,044 0.09
Med Cap4,120 0.12
Small Cap5,252 -0.35
Micro Cap8,971 0.06

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OOREDOO 1200 76,670
EEC 21.89 592,684
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QIBK 101 123,007

Economic Brief - Real Estate Activity

Source: NBK Capital

Real estate sales slip in August, but gradual recovery still on track

Sales overview

In its latest economic brief on the monthly statistics of registered real estate contracts issued by the Ministry of Justice (MoJ), excluding sales conducted through agents, National Bank of Kuwait reports that real estate activity weakened in August, but the broader picture remains one of gradual recovery from the very low levels of sales seen for much of last year. The combined number of sales transactions in the residential, investment (i.e. apartment) and commercial sectors was 374 in August, down 9.9% from July. In year-on-year terms, however, sales rose by 12.7% - their first rise in 18 months – thanks largely to very weak sales in August 2008.

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