Kuwaitis borrow KD 1.14bn this year to build private houses – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

Kuwaitis borrow KD 1.14bn this year to build private houses – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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Housing loans reach high levels in Sept

KUWAIT CITY, Nov 23: According to official data, Kuwaiti citizens obtained loans worth KD 1.14 billion from commercial banks during the first nine months of this year for building private houses. This brings the total annual rate of financing provided by commercial banks to the housing sector during the first nine months of this year to 7.9 percent, reports Al-Anba daily. Also, the balance of installment loans granted by commercial banks to citizens for the purpose of buying, building or renovating their own houses is KD 15.53 billion as of the end of September, compared to a total of KD 14.39 billion at the end of last year.