Bahrain’s real estate sector is strong and resilient and will continue to grow in the years to come, real estate leaders of the kingdom said at the Gulf Property Show’s roundtable yesterday.

 

Moderated by event organiser Hilal Conferences and Exhibitions (HCE) Exhibitions Director Ahmed Suleiman, the discussion featured Amin Al Arrayed, Chief Executive of Bahrain Real Estate Investment Company (Edamah), Majid Al Khan, Executive Board Member of Infracorp, and Aref Hejres, Chairman of Bahrain Property Developers Association (BaPDA), a Gulf Daily News report said.

 

Al Khan said: “It is important for Bahrain’s real estate future that we ensure that there is greater connection across the real estate sector. It is not only about synergistic thinking to meet the needs of the citizens of Bahrain but also about connecting projects in their purpose. We are putting this into action by joining the developments across the water of Harbour Row with The Avenues.”

 

Edamah, the real estate arm of Bahrain’s sovereign wealth fund Mumtalakat, faces the challenge of adding value to the destination creation for Bahrain.

 

“Edamah has strongly aligned with the government’s long-term vision and Bahrain’s Economic Recovery Plan. We have put into place projects which add value to Bahrain as the destination to reside in and visit. Our developments are geared to providing meaningful experiences that add value to Bahrain’s economy,” said Al Arrayed adding that under the leadership of the board of directors, Edamah has become the reliable option for delivering massive scaled hospitality projects.

 

“We have created more open access for the beaches of the kingdom under our management. Beach-goers are required to buy an entry ticket but this is in reality a coupon valid to be spent at any of the outlets available on site,” explained Al Arrayed, adding, “So access is ultimately free.”

 

Hejres, reminded the audience of the advances that Bahrain has made in the real sector; in particular the regulatory framework set up by the Real Estate Regulatory Authority, the Golden Visa scheme and professionalisation of the sector.

 

As one of the proponents of the regulatory push, Hejres said: “Construction and development as sectors are continuously evolving the framework structure that we have in Bahrain, which gives the flexibility for positive evolution of rules and practices as part of the regulatory framework.”

 

He added that the greater use of proper techniques and meeting requirements on green and sustainable building in Bahrain will benefit the real estate sector.

 

The panel united behind the message of the value proposition of Bahrain as a destination for international visitors, investors and citizens. The buoyancy in the market can be seen by the increased visitor attendance of the Gulf Property Show.

 

The full session can be viewed online through the YouTube link: https://www.youtube.com/watch?v=l2aYN9OqmVw