Rent rates in commercial real estate sector in Kuwaiti capital have witnessed a slump of 40% over last few months due to many factors, the most prominent of which is the fallout of international financial crisis.
 
The sources informed that market witnessed throughout July and the beginning of August a new decline in the price of offices rent per square metre, which had reached last year, before the crisis, its pinnacle of KD9 (Dh115) to KD16 per square metre.

At present, the price of rented square metre has reached a new level in new towers, as some of these towers located in the middle of the capital provide the rent per square metre for KD5.5. This comes while the size of areas offered in the market enhanced to approximately 1.4 million square metres due to the completion of some high towers.

According to market analysts, the prices range now between KD5.5 and KD8 in the majority of towers offered for rent.