Construction & Real Estate
From The Report: Bahrain 2024
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Bahrain’s construction and real estate sectors are key to the kingdom’s economic diversification. After overcoming challenges including the Covid-19 pandemic, supply chain issues and cost volatility, these industries are rebounding strongly. While inflation and high interest rates have impacted demand, the outlook remains positive with a robust pipeline of projects under way. The real estate sector is expected to perform well through 2024 and 2025, with ongoing projects and a focus on meeting the needs of a growing population. The hospitality sector, in particular, is likely to see increased investment as tourism becomes a key priority, leading to more hotels, apartments, shopping malls and entertainment venues.

This chapter includes interviews with Amna bint Ahmed Al Romaihi, Minister of Housing and Urban Planning; Sheikh Mohammed bin Khalifa Al Khalifa, former CEO, Real Estate Regulatory Authority; and Amin Alarrayed, CEO, Naseej.

Articles from this Chapter

Overview

Construction zone: Infrastructure projects and new residential developments are providing various opportunities for investors
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Bahrain’s construction and real estate sectors have become a major focus in the kingdom’s drive to diversify its economy. The industries are bouncing back strongly from a number of challenges in recent years, including the Covid-19 pandemic-related slowdown, supply chain disruptions and cost volatility. Global conflict and uncertainties have also affected the market, while inflation and higher interest rates have had an impact on demand. Looking ahead, with a number of projects already in progress,…

Analysis

Going platinum: A new residence permit is expected to increase foreign investment
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With new high-end villas and apartments coming on the market, filling them has been a challenge for Bahrain’s realtors, as the Gulf’s luxury segment is highly competitive. However, the kingdom’s new regulations regarding eligibility for long-term residency for foreign nationals are expected to boost Bahrain’s appeal to potential investors. In June 2023 the government issued an edict announcing the introduction of a platinum residence permit, which grants eligible foreign nationals increased…

Interview

Future cities: Amna bint Ahmed Al Romaihi, Minister of Housing and Urban Planning, on initiatives that foster sustainable growth
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Interview: Amna bint Ahmed Al Romaihi, Minister of Housing and Urban Planning In which ways does Bahrain’s real estate strategy support sustainable urban development? AMNA BINT AHMED AL ROMAIHI: Bahrain, through the Higher Urban Planning Committee, is advancing urban planning and ensuring sustainable development to align with its comprehensive roadmap. The kingdom’s urban planning goals, in line with Bahrain’s strategic framework – Bahrain Economic Vision 2030 – prioritise urban development…

Interview

Keys to success: Sheikh Mohammed bin Khalifa Al Khalifa, former CEO, Real Estate Regulatory Authority (RERA), on supporting sustainable development and enhancing accessibility in the sector
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Interview: Sheikh Mohammed bin Khalifa Al Khalifa, former CEO, Real Estate Regulatory Authority To what extent are sustainable building practices being integrated into national policies? SHEIKH MOHAMMED BIN KHALIFA AL KHALIFA: The government is actively implementing sustainable building practices and global sustainability standards. Collaboration between RERA, the Ministry of Sustainable Development, the Urban Planning and Development Authority, and other related entities is supporting the adoption…

Analysis

Concrete oases: Urban areas are experimenting with cooling technologies to mitigate the effects of climate change
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With temperatures in cities set to rise in the coming decades, many public and private players in emerging markets are looking to tackle the challenge of extreme heat through technology, sustainable building techniques and the expansion of urban green spaces. Heat Consequences The Covid-19 pandemic helped spur the growth of smart cities, with governments tapping into data-collection infrastructure to track and limit the spread of the virus. Similar technologies are being harnessed to map and mitigate…

Interview

Collaborative efforts: Amin Alarrayed, CEO, Naseej, on trends shaping the local market and the sector’s contribution toward achieving sustainable aims
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Interview: Amin Alarrayed, CEO, Naseej How are international real estate trends being localised to suit Bahrain’s market conditions? AMIN ALARRAYED: The resurgence in the real estate market, demonstrated by a significant uptick in transactions in 2023, is indicative of a robust recovery and growing investor confidence. This recovery is not only a bounce back from previous market lulls, such as those experienced during the Covid-19 pandemic, but also a reflection of a strategic adaptation to global…