Bahrain real estate market 'to stay weak in 2011'
Manama, January 11, 2011
The real estate market in Bahrain will continue to be low in 2011 though there is a strong demand in the residential sector as a result of the local housing shortage and the increased interest in expatriate home-ownership, a key business forum was told.
Capital Club, Bahrain’s premier private business club, recently hosted a high-level business forum, ‘Bahrain Outlook 2011’, which was attended by senior representatives from all sectors in the kingdom.
Moderated by Jamal Fakhro, senior partner, KPMG, the discussion focused on the economic outlook for 2011 across the region and Bahrain in particular, and was led by regional and international specialists who shared their perspective on the future of the region and analysed the impact of the global downturn.
Speakers included Khalid Al Zayani, honorary chairman Al Zayani Investments; Christophe Mariot, regional head-structured finance, BNP Paribas; Don Bradley, chief executive, Knight Frank Middle East; and Salman Al-Jishi, president, Salman Group of Companies.
Bahrain will witness the launch of major investment projects which are already in the pipeline, a presenter said.
The kingdom’s market is expected to be diversified, where some segments of the economy will develop while others remain static. The Saudi market will continue to grow due to government support and investments, he said.
An expert said when compared to the other countries in the region, Bahrain still has great potential as a central business point due to its stable financial sector, business-friendly environment, logistical benefits and tax advantages.
The Business Forum is one of a series of meetings organized by the Capital Club to provide a platform for members to hear from experts, exchange views, and prepare their plans for 2011, taking into account the impact of the global financial crisis.
The business forum was sponsored by Bloomberg and Max Linnington. – TradeArabia News Service
More Construction & Real Estate Stories
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum
- Naseej inks deal to develop Bahrain projects
- Dadabhai unveils new residential project
- Flowcrete completes Dubai Mall project
- Global asphalt demand hits new high
- $1.3bn infrastructure investment firm set up in Saudi
- Manara sees big project villa success
- Global giants eye RAK utility projects
- Cayan partners with international artist Zsuzsanna