Inter-GCC real estate ownership surged 51.5% last year
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Inter-GCC real estate ownership surged 51.5% last year

Inter-GCC real estate ownership surged 51.5% last year

According to data by the GCC Secretariat General Information Centre-Statistical Department, the number of nationals and national corporate bodies of the GCC countries who bought up real estates in another GCC member, other than their home country, increased by 51.1% in 2011 to 16,107, Wam has reported. This takes the total such inter-GCC real estate ownerships to 93,767 by the end of 2011, compared with 77,804 by the end of the previous years. The UAE came first among GCC nations in terms of attracting nationals of other GCC nationals with 10,873 registered contracts (67.5%), followed by Oman with 3,364 registered contracts representing a 20.9% share, and Bahrain in third place with 1,189 contracts, the data showed.

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