Real es­tate prices fall over low oil rate: Of­fi­cial

Kuwait Times - - LOCAL -

KUWAIT: Real es­tate price in Kuwait have re­mark­ably plum­meted due to the con­tin­u­ing dip in in­ter­na­tional oil prices, a com­merce of­fi­cial said yes­ter­day. Speak­ing to re­porters while open­ing Kuwait In­ter­na­tional Real Es­tate Fair held on Novem­ber 7-12, As­sis­tant Un­der­sec­re­tary of the Min­istry of Com­merce and In­dus­try for Com­mer­cial Con­trol and Con­sumer Pro­tec­tion Ab­dul­lah Al-Enezi said the fall in prop­erty prices is a good op­por­tu­nity for pur­chas­ing.

He be­lieved that Bri­tain’s exit from the Eu­ro­pean Union (EU) has led to a drop in real es­tate prices. He added that his min­istry has set up in­te­grated gov­ern­men­tal cen­ters at fairs, con­sist­ing of Kuwait Mu­nic­i­pal­ity and the min­istries of com­merce and jus­tice, with a view to look­ing into all ques­tions and mat­ters bear­ing on vi­o­la­tions. The Kuwait In­ter­na­tional Real Es­tate Fair at­tracted 60 in­ter­na­tional real es­tate, in­vest­ment and fi­nan­cial firms which are ex­pected to of­fer around 250 prop­erty projects in 15 coun­tries.

— Pho­tos by Yasser Al-Zayyat

KUWAIT: As­sis­tant Un­der­sec­re­tary of the Min­istry of Com­merce and In­dus­try for Com­mer­cial Con­trol and Con­sumer Pro­tec­tion Ab­dul­lah Al-Enezi in­au­gu­rates the ex­hi­bi­tion.

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