‘2020 growth rate lowest over last 9 years’
KUWAIT CITY, March 1: Al-Shall Economic Report revealed that the total number of buildings in Kuwait reached 208,500 as at the end of December 2020 compared to 207,200 in 2019, reports Al-Anba daily. According to the latest edition of the Public Authority for Civil Information’s (PACI) Directory of Buildings and Units, the number of buildings increased by 0.657 percent, which is lower than the 1.2 percent annual growth recorded at the end of 2019.
The 2020 growth rate is the lowest over the last nine years and the growth rate in 2011 was 0.662 percent. The report disclosed that vacant buildings decreased by10.3 percent – 21,600 out of 208,500 compared to 21,800 out of 207,200 at the end of 2019 (10.5 percent).
These buildings consist of 746,600 units compared to 736,800 at the end of 2019 – an increase of 1.3 percent. The compound growth rate for the units from 2011 to 2020 was 2.3 percent, while the compound growth rate for buildings within the same period was the lowest – 1.5 percent.
This confirms the continuous reduction of unit space in each building. Majority of the buildings in Kuwait are used for housing as the percentage of residential buildings reached 68.7 percent of the total number of buildings, followed by those designated for both housing and work, and those designated for work only. Also, apartments constitute a large percentage of the units – 46.4 percent of the total number of units, followed by homes at 21.8 percent and shops at 19.1 percent.