General report on the actual financial results for the properties traded until the third quarter of the year (January-September) 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 boom until the third quarter of 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 until the end of the third quarter of 2005 show an increase of 25% in property transactions, compared with the year 2004. The highest percentage of traded properties was during the second quarter of the year, followed by the first quarter with 29%, then the third quarter accounting for 31%. The figures are close, and this reflects an upward trend throughout the year.

Property transactions stood at BD 396,426,756, in addition to BD 316,289,791 for the year 2004, an increase of BD 80,136,956.

Property transactions concluded by Gulf and foreign nationals until the end of the third quarter of the year accounted for 8% of the total number of properties traded, against 10% in the year 2004. The close figures show an upward and stable trend.

 

Number of Properties

Investors

Value of Properties

%

2,914

Bahrainis

363,530,940

92.3%

86

Saudis

17,482,363

4.4%

55

Kuwaitis

5,733,273

1.4%

16

Emiratis

3,052,357

0.7%

8

Qataris

3,846,249

1%

10

Omanis

684,271

0.1%

12

Foreigners

2,097,303

0.4%

3,101

Total

396,426,756

100%

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