Construction

Q1 2013 sees 36% jump in Bahraini real estate growth

Measures taken by government help regain the trust of investors and real estate developers

Bahrain has seen a surge in real estate investment in Q1 2013

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A survey released by Bahrain’s Survey and Land Registration Bureau has found that real estate trading in the Kingdom has grown by 35.61% in the first quarter of 2013, as compared to the same period last year.

A report in Gulf Daily News, a local newspaper, said that total trading volume reached $502.54 million during the first three months of 2013, thanks to favourable climates prevailing in the country.

Furthermore, measures taken by the Bahraini government helped regain the trust of investors and real estate developers, the report said.

In December of 2012, Bahrain’s Shuara Council said that it would spend $1.54 billion over the next two years to build 16,000 housing units across the country.

The plan is part of the Ministry of Housing’s long term goal of building more than 50,000 units in the Kingdom. It is also part of the decision to clear applications that had piled up over the last few years, a Council member said at the time.

 

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