A $1 billion real estate company is being planned to provide housing units to Gulf nationals, our sister paper Akhbar Al Khaleej reported.

The project, the brainchild of the Bahrain Chamber of Commerce and Industry (BCCI), has been backed by the GCC Chambers’ Union, BCCI real estate committee chairman Hassan Ibrahim Kamal told our sister paper Akhbar Al Khaleej yesterday.

The company will have a capital of $1 billion to be paid equally by all six GCC countries, he said. It will also offer 100 million shares, worth $100, to the public.-TradeArabia News Service