Kuwait Property Show

A thorough array of international real estate projects in 20 countries will be on show at the Kuwait International Property Show this month, the first of its kind in this oil rich Middle East country.

Kicking off on April 14th, the five day fair features more than 100 local and international companies showcasing more than 500 projects from around the world at the biggest such exhibit in the country focusing on property, finance and investment.

Between 50,000 and 75,000 visitors are expected to attend from Kuwait and abroad and it is being regarded as a platform to launch Kuwait as a major worldwide player in the indoor exhibition sector.

'This exhibition reflects the real estate and architectural boom in Kuwait, to which the government has set aside KD 6 billion. The private sector is competing with the government to build housing, entertainment and real estate projects, where the investments are not less than KD 6 billion. So this exhibition represents the perfect platform for exhibitors to exhibit their projects and ideas,' said Ali Al-Shatti, General Manager of Kuwait International Fair.

The real estate sector is an important sector in Kuwait. 'This sector generates most income after the oil. So holding such exhibitions is very important for both the companies and individuals. The sector is growing in Kuwait, which is obvious by the large number of newly built projects. This event will be on the annual agenda and is expected to garner even more success,' explained Waleed Qadoumi, Managing Director of Top Expo, joint organisers.

Kuwait is expected to experience a property boom in 2008 due to the creation of the GCC common market and a lower income tax on foreign firms, according to a report by Al-Mutakhassis Real Estate. Other factors that are expected to boost the real estate market are the release of land by the Kuwait Petroleum Company for the creation of 16,000 low cost housing units, and plans for a $14bn rail link and underground rail network.

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