General report on the actual financial results for the properties traded during the first half of the year (January-June 2005

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SLRB Head HE Shaikh Salman Bin Abdulla Bin Hamad Al Khalifa has said the property market in the Kingdom of Bahrain witnessed a remarkable increase during  the first half of the year 2005, reflecting investors' confidence in this type of investments due to the political and social openness and the stable security situation, which all enhances investors' confidence and assurance of investing their money in the Kingdom. The property market is considered one of the main pillars of economic activities and in the infrastructure of the national economy and stimulating growth in the Gross Domestic Product.

Actual figures for the properties traded during the first half of 2005 show an increase of 46% in property transactions, compared with the corresponding period of  2004.

Property transactions during the first half of the year 2005 stood at BD 271,286,217, in addition to BD 185,770,999 during the first quarter of 2004, an increase of BD 85,515,218.

Property transactions concluded by Gulf and foreign nationals during the first half of 2005 accounted for 8% of the total number of properties traded, against 9% in the year 2004. The figures for the two years are close.

Number of Properties

Investors

Value of Properties

%

2,118

Bahrainis

249,362,769

92%

57

Saudis

10,950,693

4%

40

Kuwaitis

4,013,527

1.5%

11

Emiratis

1,717,760

0.6%

7

Qataris

3,844,749

1.4%

4

Omanis

252,000

0.1%

8

Foreigners

1,144,719

0.4%

2,245

Total

217,286,217

100%

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