Real Estate Services in Pakistan and UAE

Bahrain Real Estate Booming?

October 21, 2008 Admin Real Estate

Healthy capital inflows, high liquidity, a growing population, rising demand for property, and a growth in credit facilities are creating a boom in Bahrain with real estate as the prime engine of growth, it is claimed

As much as £8 billion worth of projects are underway and although 90 per cent of those investing in property in Bahrain are local there is increasing interest from non-nationals especially from the Gulf region.

The Governments liberal policies and an expatriate friendly investment environment will help to ensure the boom continues, said A. Majeed Al Gassab,President of the Bahrain  Society of Engineers which is organising the Bahrain International Property Exhibition 2008 which opens later this month.

He pointed out that Bahrain was the first nation in the region to grant property buyers the right of freehold ownership.

He is also optimistic that Bahrain in particular and the Gulf region in general, will more or less remain unaffected by the current global financial turmoil. The region is today considered a safe haven for international investors seeking to shield themselves from the global financial downswing in the equities markets and escape the recessionary trend in the major world economies, he said.

The optimism is backed up by analysts. A spokesman for real estate advisory firm DTZ Bahrain said the country can expect significant growth in the property sector up until at least 2021. Growth is expected across the residential and commercial sectors with the kingdom remaining a highly competitive market ripe for investment across both, he added.

Interest is high for the three day BIPEX show which starts on October 23 at the Bahrain International Exhibition Centre.

Exhibition space has already been increased due to demand and the organisers expect to exceed last years record when over £17 billion worth of real estate assets from 70 companies were on show to over 12,000 visitors.

The strong interest in this event is a reflection of the consistent growth of the real estate sector in the gulf region which has risen in stature as an international property market capable of attracting investments from across the globe, said Jameel Khalaf Al Alawi, Director of Conferences at the BSE.