Real estate sales in Kuwait declined sharply in February 2005, following a big increase a month before, a real estate report showed Monday. The report, released by the National Bank of Kuwait (NBK), said as many as 462 real estate sales transactions with a value of KD104 million were reported last month, a 17 percent drop compared to January.
The decline in sales is attributed to low real estate activities in the apartments and commercial sector. Sales fell by 54 percent, said the report. (KD = US$0.293).