Bahrain could ban foreign property ownership

by Daliah Merzaban Monday, 24 December 2007

Bahrain could pass a law preventing foreigners from owning properties in the Gulf Arab state in order to curb pressures on real estate prices, a member of parliament was quoted as saying in UAE daily Khaleej Times.

Bahrain's parliament was considering the law, which would also apply to nationals of other Gulf Arab oil producers, said Abduljalil Khalil, head of the parliament's financial affairs committee, according to the newspaper.
"The move aims to check the 'unreasonable hike' in real estate prices in Bahrain," Khaleej Times said, citing Khalil.

Inflation in Bahrain would ease to 3.1% next year from 3.2% this year, the lowest rate in the Gulf Arab region, a Reuters poll showed this month. (Reuters)



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