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Newly-formed Commercial Venture Real Estate Company expects to finalise its first investment in the third quarter of 2006. The Bahrain-based company will invest in a residential project in northern Bahrain. The company was established in April to participate in social housing projects in the Middle East and North Africa (MENA) region, concentrating on the GCC. ‘The Arab world has a young population and disposable incomes are not as high as they used to be,’ says Commercial Venture director Sharif Monfaradi. ‘In North Africa, living standards are below the rest of the Arab world. Social and affordable housing is in demand.’