By Mar-Vic Cagurangan
Variety News Staff

THE real estate industry is starting to experience a windfall from the impending military expansion on Guam, with transactions surging to all-time sales high of $435 million in 2006, the governor’s office said yesterday.
The governor’s office cited The Captain Company’s summary of general market activity report, which showed that the 2006 sales activity was 68 percent higher than the sales record in 2005.
 “There is an exciting future ahead of us and I think we’re beginning to feel the effects of the impending military buildup and a fast growing economy that is years from its peak,” acting Gov. Michael W. Cruz said upon receiving The Captain Company’s report.
The construction boom is expected to occur in the next couple of years as developers begin building residential complexes and housing units in anticipation of the population increase resulting from the arrival of 8,000 Marines and their dependents in 2012, as well as the additional labor force.
 “We’re working hard to make all this translate into more jobs, higher-paying careers, housing opportunities and much more,” Cruz said.
“We’re working with our private sector, the visitor industry and our military partners to grow this economy even more and to sustain growth far into the future while improving everyone’s quality of life,” Cruz said.
The real estate report shows that sales in the fourth quarter of 2006 outpaced the annual sales in 2000, 2001, 2002 or 2003.