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Kuwait relies on Iraq to activate the investment property market
10:01 - 07/01/2018
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Information / Baghdad ..
KUWAIT: The investment market in Iraq has improved in the past few years, the chairman of Kuwait's Al-Farkan Holding Company said on Sunday.
Al-Khayyat said that "the real estate sector witnessed a significant decline last year," Al-Kharayat said. "The most important factor that led to the decline of this sector is the construction law, which contributed to The decline in prices of investment properties, and led to a lack of confidence in this type of real estate, in addition to the exit of small investors from the market with the high cost of construction and the lack of funding channels.
He added that "the improvement of the investment property market is linked to the conditions in Iraq, especially with the inability of employees of companies operating in Iraq to live inside, and that Kuwait is the nearest residential community, this will create a large margin of demand for investment property in Kuwait, Increase in occupancy in the four-star hotel rooms. "
"The performance of the property in 2018 will not be far from 2017 but it may be better," Khayat said. "The recession that began almost 2014 has almost come to an end, with real estate performance in 2017 starting to stabilize significantly." Ending / 25
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