Kuwait real estate investments hit $8 billion
According to Al-Bayan newspaper (July 7, 2005), the real estate sector in the State of Kuwait has witnessed a major boom since the removal of Saddam Hussein's regime in Iraq. A number of huge real estate projects are currently being planned in Kuwait particularly in the building, infrastructure and housing sectors. Market sources estimate this projects value at no less than $8 billion. The oil price, which hit peak levels, and the inflation rate, which declined noticeably, resulted in high rate of returns on investments. These investments were re-injected into the real estate sector by both the government and the private sector.