General Report on the Actual Financial Results of the Properties Traded in the Kingdom During the 1st Quarter (January-March) 2007

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The property sector plays a vitally important and instrumental role in economic activities on the global scene, and it is considered one of the active  and effective investment tools affecting the income of countries, both regionally and internationally.

Given the open door economic policies followed by the Kingdom as a premier financial hub in the region, as well as the flexible legislation and regulations regulating the trading of properties, trends and indicators of traded properties are increasingly growing, with the total number of properties traded until the end of the first quarter of this year reaching BD 236,613,072, against BD 142,488,605 in the corresponding period of last year, an increase of 40%.

Record Trading Figures in the First Quarter

The month of February witnessed the highest number of traded properties during the first quarter of this year and last year, with the value of traded properties standing at BD 94,421,710, while the month of March 2006 witnessed the highest value of properties traded, standing at BD 51,274,309.

Traded Properties by Gulf Nationals and Foreigners

The percentage of properties traded by non-citizens in the Kingdom during the first quarter of the year 2007 stood at 14% of the total number of properties traded in the year 2006, against 12% last year. This shows that the two percentages are very close.

 

Number of Properties

Investors

Value of Properties

%

1,177

Bahrainis

204,071,760

86%

35

Saudis

21,991,060

9%

7

Qataris

1,856,076

0.8%

13

Kuwaitis

5,490,160

2.5%

3

Omanis

570,767

0.2%

10

Foreigners

2,633,240

1.5%

1,245

Total

236,613,072

100%

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  • During the first quarter (January to March) 2007
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