Construction & Real Estate
From The Report: Bahrain 2022
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The construction and real estate sectors are important contributors to Bahrain’s GDP, yet in the years preceding the pandemic both sectors displayed erratic growth due partly to oil price instability and the government’s fiscal consolidation programme. However, recent legislative amendments and strategic announcements are expected to reinvigorate the closely linked sectors and support the central goals of Bahrain Economic Vision 2030, the overarching policy framework guiding the country’s development through to the end of the decade. A major infrastructure development drive, which includes a plan to expand Bahrain’s land mass by as much as 60%, alongside ongoing and recently announced upgrades to the industrial base, should drive construction and real estate growth.

This chapter contains an interview with Mohammed Khalil Alsayed, CEO, Ithmaar Development Company.

Articles from this Chapter

Overview

Laying the foundation: A healthy pipeline of new projects has helped drive growth after a period of stagnation during the pandemic
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The construction and real estate sectors are important contributors to Bahrain’s GDP, yet in the years preceding the pandemic both sectors displayed erratic growth due partly to oil price instability and the government’s fiscal consolidation programme. However, recent legislative amendments and strategic announcements are expected to reinvigorate the closely linked sectors and support the central goals of Bahrain Economic Vision 2030, the overarching policy framework guiding the country’s development…

Interview

A new page: Mohammed Khalil Alsayed, CEO, Ithmaar Development Company, on the role of sustainability in the local market
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Interview:Mohammed Khalil Alsayed How do you view the attractiveness of Bahrain’s property market for foreign investment, and what could be done to enhance its appeal? MOHAMMED KHALIL ALSAYED: While the current framework for foreign investment in the local property market is appealing, the government is looking for ways to enhance the visibility of the market and position the kingdom as a favoured place in which to reside and buy property. It is also working to attract non-GCC property…

Analysis

Golden age: New visa programme to stimulate real estate investment
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Bahrain is mounting a coordinated cross-government response to help revitalise the economy in the wake of the Covid-19 pandemic which has positive implications for the county’s real estate sector. In October 2021 the kingdom announced an Economic Recovery Plan comprising a series of five-year strategies targeting industry, logistics, tourism, financial services, the digital economy and other strategic projects of interest to real estate investors. The goal is to enable $30bn of investment and…

Analysis

Sustainable by design: Innovative practices contribute to carbon-neutral building
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As the construction industry redefines its priorities to ensure sustainability, there is increasing recognition of the benefits of regenerative architecture as a means of lowering emissions. According to the “2019 Global Status Report for Buildings and Construction” published by the UN Environment Programme (UNEP), the construction sector accounts for nearly 40% of global energy-related greenhouse gas emissions. In light of this, a greater emphasis has been placed on sustainable architecture. The…