Kuwait
Kuwait’s online classifieds platform ‘4Sale’ announced the launch of 4Sale Realty, an online property broker, aiming to shake up Kuwait’s $12 billion real estate market, according to a company statement.
The online broker ‘4Sale Realty’ employs interactive 3D tours of listed properties for users to explore and an accurate measurement tool that allows users to see granular dimensions for each property.
The new digital property purchasing experience is to be positioned as the most engaging and interactive real estate experience in Kuwait. 4Sale Realty’s dedicated real estate agents manage property listings end-to-end – from curating listing details and 3D tours to prospecting potential tenants or buyers and broking the deal. It will offer commercial and residential property for anyone to buy, rent, and sell effortlessly in Kuwait, the statement said.
Tarek Sakr, Chief Executive Officer of 4Sale, said: “4Sale never sits still, and we are delighted to launch 4Sale Realty to our customers in Kuwait. Housing demand is projected to rise continuously, and the sector is ripe for technological disruption.
“We have developed a digital real estate experience to transform the process of buying, selling and renting property in Kuwait. Part of 4Sale’s rapid growth is driven by a deeper expansion into key verticals – such as real estate where we already had a strong market position – and I am very excited for consumers to experience it,” Sakr added.
Pre-launch, 4Sale was already a significant player in Kuwait real estate, with its 2022 activity including hosting over 60,000 property listings across Kuwait.
The Gulf country continues to invest in technology and most recently announced its strategic vision to digitize government services, host national data securely and establish a national digital skills program. The solution devised by 4Sale Realty complements these national policies and will create the foundation of a digital, modern, and well-functioning real estate market, according to the statement.
Kuwait’s economy is set for solid growth in 2024 with GDP estimated to increase by c. 2.5%. The real estate sector in particular is expected to accelerate driven by increased demand for property from Kuwait’s youthful population.
