In line with its continuous efforts to strengthen and deepen financial and economic cooperation between the countries of the Cooperation Council for the Arab States of the Gulf (CCASG), the Ministry of Finance (MoF) recently issued its annual statistical report on the Gulf Common Market (GCM) - 2011. The report featured numbers and rates, highlighting efforts taken towards enhancing financial and economic cooperation of GCC states.
The report revealed an increase in the registered property contracts of GCC nationals in the UAE by 32 per cent amounting to 44,902 contracts in 2011 compared to 34,029 contracts in 2010. It also presented an increase in the number of traded and registered properties for GCC nationals in the UAE, where the number of registered contracts increased from 4,604 contracts in 2010 to 10,873 in 2011, confirming the UAE as an attractive investment centre in the real estate market.
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