The operating revenues of real estate companies listed on Kuwait’s stock exchange for the first half of this year totaled $782 million (Dh2.8 billion), up 3.4% from $756 million (Dh2.7 billion) during the same period in 2023.
Compared to the prior year, this increase signifies a gain of $258 million (Dh947 million).
Mabanee Company, which topped the industry, increased its operating revenues from $202 million (Dh741 million) to $216 million (Dh793 million).
Following with revenues of $131 million (Dh481 million), United Real Estate Company saw a decline from $140 million (Dh514 million).
Salhia Real Estate Company, whose revenues increased from $65.4 million (Dh240 million) to $72.6 million (Dh266 million), took third place.
While Al-Tijaria Real Estate Company saw revenues of 15.5 million dinars, down from 15 million dinars previously, Kuwait Real Estate Company earned $51.7 million (Dh189 million), up from $48 million (Dh176 million).
Ajyal Real Estate Entertainment Company experienced the greatest growth, increasing revenues from $11 million (Dh40 million) to $16.3 million (Dh59.8 million) at a rate of 44.4%.
On the other hand, a few businesses experienced a drop in revenue.
The biggest decline was recorded by the National Real Estate Company, which went from $21.6 million (Dh79 million) to $8.5 million (Dh31.2 million), a drop of 60.6%.
Revenues at Real Estate Trade Centers dropped from $257,000 (Dh943,000) to $144,000 (Dh528,000), a 47.6% decrease.
The real estate industry has performed well overall, which highlights its resilience and continued growth in spite of these difficulties.