Deputy Prime Minister and Minister of Industry and Commerce Abdulmohsen Al-Madaj said that real estate exhibitions held in Kuwait have managed to attract the biggest international firms, demonstrating its importance as a popular market.
After attending the official opening of Cityscape Kuwait, he told reporters that Kuwaitis look to invest in real estate due to opportunities for the most reasonable of returns, "particularly in unique regions found in unique locations of the globe." He sensed obligation on part of the companies participating in the exhbition to provide consumers with competitive prices, adding that "this demonstrates growing local demand." For his part, Deep Marwaha, Group Director of Cityscape, said that Kuwait is currently witnessing a period of renewed growth in light of a resurging economy backed by solid financial resources, a growing population and foreign workforce, and structural reforms that have been recently introduced.
These factors have led to an expansion in the scope of investors in real estate abroad, and a general improvement in growth prospects, he added.
Some 55 companies are showcasing their property at the exhibition which ends on December 9.