KFH funds realty deals abroad

KUNA : Kuwait Finance House is currently examining prospects of making a contract with an establishment specialized in real-estate assessment on the international market. The house is seeking to offer, through such a contract, an additional value, special services and guidance to clients planning to purchase a plot in any country ahead of offering the investor the necessary financing, said the director of the department of local real-estate, Salah Al-Khamees. Al-Khamees said in a statement that the funding of the purchase of real-estate plots outside Kuwait is of paramount significance .

The house, among its current services, offers funding for clients seeking to buy residential units in installments extending to seven years. He encouraged investors to invest on the basis of the Islamic method, profit sharing, saying the positive prospects in the local real-estate sector are high.

Kuwait Stock Exchange (KSE), in last week’s trading, witnessed continous trend of corrections, Bayan Investment Company said in a statement released on Saturday. The drop of the main indexes during most of the week’s sessions made the price index sustain more losses of its annual earnings, while the weighted index fell lower than the closing level of 2007, thus posting annual losses too.
The bearish trend was related to the distorted forecast picture of the market conditions, a state of vigilance among the brokers and the heavy corporate subscritpions that sucked out much of the market liquidity.

Regional political and security instability and tension have also contributed in the bearish trend of the national stock market The KSE index, upon closing on Thursday, Sept 4, dropped 121.4 points and reached 13,961.6 points. A total of 184.3 million shares worth KD 100.1 million were dealt in 5,548 transactions. The KSE index crossed the 14,000-point barrier after a short-lived robust leap, when it has recently crossed the 15,000-point barrier.