KUWAIT, May 11 (KUNA) -- Expo City announced Wednesday that the Kuwait International Property Show will be held between May 22 and 25 at the Regency Kuwait Hotel with 20 local and foreign real estate developers taking part.
The event will take place at a time when the local property market is facing challenges due to rare investment opportunities that resulted from the political and economic upheavals in the Arab region, Expo City's CEO Ihab Jaber told reporters here.
"The financial difficulties add to the strains of the property market so the exhibition will shed light on the horizons of investment in projects that met the strict controls of the Ministry of Commerce and Industry and Kuwait Municipality," he said.
"All exhibits have been subject to meticulous verification by several government bodies to ensure their authenticity and viability," Jaber affirmed.
"The exhibits include tourist projects, apartments and villas in various Arab and foreign countries that suit the current conditions of the market and offer investors wide-ranging choices," he added.
Jaber noted that the event will take place shortly after the formation of a new government in Kuwait and the start of the second year of the USD multi-billion development plan.
He expects that the event to attract large numbers of serious investors who are confident about the outlook of the market.
The financial results of 2010 showed that the major investors in real property notably the banks resumed growth after two years of loss making, which heralds the recovery of the market, he added. - Kuna