While 2015 brought growth in Brunei Darussalam’s real estate sector, a further cooling of the economy points to a slowdown in the Sultanate’s property market for the rest of this year. In May the IMF lowered its 2016 economic forecast for the Sultanate to a contraction of 2%, which was down from an earlier estimate made in October of 3.2% growth, which, if realised, would mark a fourth consecutive…
As a result of a 2012 law that restricts property ownership in the Sultanate to citizens, as well as plans to institute sharia law in the country, Brunei Darussalam has become a profitable market in which to sell overseas property. Indeed, investment opportunities in Brunei Darussalam’s property market have proved to be unattractive for permanent residents (PRs) and foreigners living in the sultanate…
The ASEAN Economic Community (AEC) is set to allow the free flow of goods, services, investments and skilled labour, while facilitating the movement of capital across the region. Formally established on December 31, 2015, the community is built on a series of agreements and pillars that establish a stable foundation for liberalised trade and economic expansion in the region. The four key pillars include…
The real estate sector in the Brunei Darussalam has undergone a series of transformations in the past few years that have changed the landscape considerably for buyers and sellers alike. These developments encompass changes to title law, loan regulations, ownership and the market itself in terms of demand and the type of housing being built to supply that demand. Behind it all, the government remains…
A number of large-scale construction projects are currently being rolled out in Brunei Darussalam that look set to make a significant contribution to the national economy, greatly facilitating the Sultanate’s connectivity and potentially leading to further substantial construction opportunities. In addition, several small-sized infrastructure projects are under way, which promise to add to the Sultanate’s…
Interview: Bobby Chua To what extent has connectivity improved in recent years, and what can be done to further upgrade Brunei Darussalam’s transport network? BOBBY CHUA: In recent years, the government of Brunei Darussalam has been working aggressively to improve the country’s connectivity, which can be seen through its commitment to oversee major infrastructural projects such as the expansion…
A number of large-scale infrastructure projects are currently being rolled out in Brunei Darussalam that look set to make a significant contribution to the national economy, greatly facilitating the Sultanate’s connectivity and potentially leading to further construction opportunities. In addition, several small-sized projects are under way, which promise to add to the Sultanate’s attractiveness…
Despite economic and legal changes now under way, Brunei Darussalam remains well positioned to continue on its current trajectory of steady economic growth and political stability. The increasing focus on economic diversification, and the ongoing growth of the non-energy sectors, bodes well for the Bruneian economy, as does further exploration and improved efficiency in the oil and gas industry. F
Taking advantage of the rewards reaped from a sustained period of high oil prices, Brunei Darussalam has embarked on several large-scale infrastructure projects that are designed to serve as the foundation of a stronger, more diverse economy. Many of the largest investments are in the ground transport system, which will play a crucial role in the industrial and tourism sectors by improving efficiency…
The traditional settlement patterns of Brunei Darussalam looked markedly different 60 years ago, when the vast majority of its citizens resided in water villages built on stilts along the banks of the Brunei River, than they do today in modern Bandar Seri Begawan. When cholera and smallpox epidemics swept through the crowded settlement of Kampong Ayer in 1953, the government was prompted to initiate…
