A revival in transport and tourism after two years of pandemic-related slowdowns caused by closed borders and social-distancing measures is helping to boost the economy, with the kingdom’s hotels, restaurants and resorts once again open to regional and international visitors. The country’s guiding plan, Bahrain Economic Vision 2030, aims to enhance private sector growth and continue government
– Building and construction industry accounts for 38% of energy-related carbon emissions – Gulf countries are among those with the highest ecological footprint – Major projects such as the Dubai Urban Master Plan and Masdar City highlight the region’s progress – Continued investment needed to meet future sustainable construction goals As industries around the world increasingly turn…
Although it is one of the most diversified economies in the GCC, Bahrain did not emerge unscathed from the 2014 oil price crash. Since then, the country has worked to broaden state revenue streams, implementing new fiscal measures to balance the budget, such as the introduction of a 5% value-added tax in January 2019 and the lowering of state subsidies. Nevertheless, large-scale infrastructure pro
From 206 BCE to 220 CE, China’s Han dynasty fostered a booming trade industry for silk, a precious commodity in high demand among the elites of the Mediterranean. The Silk Road was the name given to the network of trade routes connecting the East and West at the time. Later, spices and other precious cargo would be traded using the system, fostering not only economic, but also cultural links…
Urbanisation is a mega-trend redefining contemporary life in both developed and emerging markets across the world. This mass rural-to-urban movement of people and expansion of cities to absorb formerly isolated villages is a relatively recent phenomenon, at least in the developing world. According to the UN, in 1950, 751m people lived in urban areas; however, by 2018 this number had risen to…
Interview:Sheikh Mohammed bin Khalifa Al Khalifa How is real estate performing currently, and what input will the RERA have in shaping the future of the real estate market in Bahrain? SHEIKH MOHAMMED BIN KHALIFA AL KHALIFA: The real estate market is cyclical by nature and currently trending towards the lower end of the cycle. This is challenging, not just in Bahrain but across the GCC and in…
As a significant contributor to growth, Bahrain’s construction sector stood as the fastest-growing non-oil sector in 2018. Its expansion was supported by a surge in investment into infrastructure for energy, manufacturing and real estate. Rates of growth and lending have risen steadily in recent years on the back of a major oil and gas modernisation programme and a number of big-ticket projects.…
Interview:Mohammed Khalil Alsayed How are land scarcity, rising utility costs and a bear market affecting home ownership and lifestyle expectations among the youth population? MOHAMMED KHALIL ALSAYED: The 2008-09 global financial crisis redrew the boundaries of what is considered luxury housing. Unsurprisingly, there is a greater awareness that providing large villas for each household is not…
From 206 BCE to 220 CE, China’s Han dynasty fostered a booming trade industry for silk, a precious commodity in high demand among the elites of the Mediterranean. The Silk Road was the name given to the network of trade routes connecting the East and West at the time. Later, spices and other precious cargo would be traded using the system, fostering not only economic, but also cultural links…
Real estate in Bahrain has remained resilient in the face of successive macroeconomic challenges, maintaining a positive – albeit subdued – growth trajectory in recent years even as rental and occupancy rates declined across the residential, commercial, and hospitality segments. While developers have struggled with persistent oversupply and weakening demand – particularly for luxury residential…