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Kuawit Real Estate Holding rises as Global expects property market to stabilize |
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Tuesday, 11 October 2011 07:07 |
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Kuwait: The KSE Market Index added 0.19% to close at 5,859 points. Shares of Kuawit Real Estate Holding jumped 8.9% to KD0.0305. Earlier in the day,
Global Investment House said in an analysis Kuwait's real GDP is expected to grow by 4.4% in 2011 after growing by an estimated 2% in 2010 and shrinking 4.5% in 2009. Global comments on the domestic real estate market: "In 1Q11, Kuwait Investment Authority (KIA) announced that it intends to allocate KD1bn to invest in the local commercial property market in an attempt to stabilize the stagnant segment by injecting new cash as investor sentiment continues to be on the negative side(...)We believe that even if asset prices and rental rates reach a state of stabilization in the near future, there are still no solid fundamental signs of price improvements in the horizon." [AMEInfo.com] Read more:
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