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FINANCIAL NEWS
GCC investments in UAE property increase 32% in 2011
22 Aug 2012
(MENAFN) An official report showed that GCC investors have increased property buyouts in the UAE by 32 percent in 2011, indicating the return of confidence in the sector, Khaleej Times reported.
Ministry of Finance’s annual statistical report on the Gulf Common Market-2011 showed that a total of 44,902 property transactions were registered last year, up from 34,029 in 2010.
It also presented an increase in the number of traded and registered properties to the GCC nationals to 10,873 in 2011 from 4,604 contracts in 2010.
The number of licenses granted to GCC nationals to do business increased by 10.2 percent to 28,909 licenses last year, according to the report.
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