Construction & Real Estate
From The Report: Bahrain 2019
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A major contributor to employment and GDP, the Bahraini construction sector has continued to expand in recent years, despite slower regional growth. This performance continued into the first half of 2018 with an uptick in activity, supported by a series of major infrastructure projects, in part financed by neighbouring GCC states. Furthermore, with demand for transportation and industrial facilities set to rise and a number of new projects in the pipeline, the sector appears set to remain busy over the coming years, despite constraints on the government’s capital expenditure budget.

This chapter contains interviews with Sheikh Mohammed bin Khalifa Al Khalifa, CEO, Real Estate Regulatory Authority; and Mohammed Khalil Alsayed, CEO, Ithmaar Development Company.

Articles from this Chapter

Overview

Building up: Major infrastructure work is under way, as regulatory reforms create space for private investment
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A major contributor to employment and GDP, the Bahraini construction sector has continued to expand in recent years, despite slower regional growth. This performance continued into the first half of 2018 with an uptick in activity, supported by a series of major infrastructure projects, in part financed by neighbouring GCC states. Furthermore, with demand for transportation and industrial facilities set to rise and a number of new projects in the pipeline, the sector appears set to remain…

Interview

Enabling legislation: Sheikh Mohammed bin Khalifa Al Khalifa, CEO, Real Estate Regulatory Authority (RERA), on the sector’s sustainability
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Interview: Sheikh Mohammed bin Khalifa Al Khalifa What is being done to ensure that private sector interests are given due weight in new regulations? SHEIKH MOHAMMED BIN KHALIFA AL KHALIFA: The legislation that led to the creation of RERA, Law No. 27 of 2017, clearly outlines our role in ensuring that the interests of all sectors and stakeholders are represented when it comes to designing and implementing new regulations and by-laws. The RERA Board of Directors and working group includes representatives…

Overview

Room to manoeuvre: Improved regulations and a drive to increase the supply of affordable homes support an already resilient market
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Real estate development is a significant contributor to the Bahraini economy and 2017 saw the sector post its strongest growth rate in years, though activity slowed in the first half of 2018. Nevertheless, a major government initiative to expand the stock of affordable housing has stimulated activity in the sector. In addition, rising demand from both industry and the leisure and tourism segment has boosted the kingdom’s commercial real estate offering. Furthermore, in order to ensure sustainable…

Interview

Surveying the terrain: Mohammed Khalil Alsayed, CEO, Ithmaar Development Company, on market responses to history and policy
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Interview:Mohammed Khalil Alsayed How will the new Real Estate Regulatory Authority (RERA) affect the supply side of the market? MOHAMMED KHALIL ALSAYED: Changes to the regulatory framework of any economic subsector are always works in progress. Businesses need to learn to adapt and compete in dynamic environments, which allows the best players to stay in business. At the same time, it is also true that the introduction of new rules by the RERA may have had an adverse impact on the sector,…

Overview

Sustainable urbanisation: As urban populations undergo rapid growth around the globe, planners are striving to create efficient spaces
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In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Towns and cities are seen as the crucibles of opportunity for many rural dwellers. The UN estimates that by 2030 urban areas will host 60% of the world’s population – up from 54.5% in 2016 – with the pace of urban growth especially rapid across Africa and parts of Asia. Urban areas are home to more than 470m people in Africa, accounting for 40% of the continent’s population,…

Overview

Sustainable urbanisation: As urban populations undergo rapid growth around the globe, planners are striving to create efficient spaces
OBG
plus

In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Towns and cities are seen as the crucibles of opportunity for many rural dwellers. The UN estimates that by 2030 urban areas will host 60% of the world’s population – up from 54.5% in 2016 – with the pace of urban growth especially rapid across Africa and parts of Asia. Urban areas are home to more than 470m people in Africa, accounting for 40% of the continent’s population,…