General report for the actual financial results for the properties traded until the end of the year (January-December 2006)

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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 during 2006, 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 2006 show an increase of 67% in property transactions, compared with the year 2005. The highest percentage of traded properties was during the second and fourth quarters of the year, representing 29% each, followed by the third quarter with 25% and then the fourth quarter of 16%. The figures are close, and this reflects an upward trend throughout the year.

Property transactions during the year 2006 stood at BD 876,212,238, in addition to BD 524,209,751 for the year 2005, an increase of BD 352,002,486.

Property transactions concluded by Gulf and foreign nationals until the end of the fourth quarter of the year accounted for 7.5% of the total number of properties traded, against 9% in the year 2005. The close figures show an upward and stable trend.

Number of Properties

Investors

Value of Properties

%

16,291

Bahrainis

810,526,005

92.3%

117

Saudis

40,716,464

4.6%

32

Kuwaitis

11,325,198

1.3%

9

Emirates

1,194,380

0.1%

12

Qataris

1,525,258

0.2%

8

Omanis

878,067

0.1%

22

Foreigners

10,046,866

1.2%

16,491

Total

876,212,238

100%

 
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  • The end of the year January-December 2006
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