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Kuwaitis top GCC citizens in realty acquisitions in council states
December 6, 2014, 2:47 pm

Kuwaitis are in lead among other GCC citizens with respect of realty possession in the council member states -- estimated at 9,940 in 2013, according to a GCC report. The report released on Saturday by the GCC Secretariat General's information department noted that Saudis are second, 5,022, followed by the Qataris, 1,870, the UAE citizens, 1,368, Bahrainis 1,357 and Omanis 998.

Property acquisition by GCC citizens in the council member states is stipulated by the 2001 economic treaty which guarantees equal treatment with locals in the real-estate investments in each of these regional countries.

Total number of such acquisitions covering all GCC citizens, in 2013, amounted to 20,555, with a 25 percent rise as compared to 2012, where the figure stood at 16,479.

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