Bahrain real estate transactions hit $2.6bn
01 March 2022
Bahrain’s real estate sector witnessed solid growth in 2021 with the transactions value surging to BD1 billion ($2.62 billion), up 46 per cent over the previous year, underpinned by landmark government initiatives and an improving outlook, according to global real estate advisor Savills.
Various government initiatives introduced during 2021 have helped drive an increase in property transaction values in Bahrain and generated optimism in local market sentiment across the residential sector, stated Savills in its Q4 2021 update on the Bahrain market.
To maintain this strong growth momentum, the government revealed a four-year National Real Estate Plan 2021-2024 in March 2021 to promote investments into the sector, develop innovative real estate enterprises, and preserve all the stakeholders’ rights, thereby creating a secure and transparent real estate sector.
In October, the government had announced a new national economic growth and fiscal balance plan. The multi-year, five-pillar plan is one of the largest economic reform programmes for the kingdom and aims to improve Bahrain’s long-term competitiveness, Savills stated in its report.
- Edamah’s Bilaj Al Jazayer masterplan approved
- Bahrain real estate transactions hit $2.6bn
- Kuwait’s new Criminal Investigation HQ complete
- Qatar’s FM market revenue to top $22.3bn
