Bahrain's Real Estate Regulatory Authority (Rera) has launched its real estate data bank platform, Aqari, in a move aimed at providing the best opportunities for investment in its real estate sector and offering supportive facilities to  boost the confidence of real estate investors in the promising prospects of the knowledge-based and competitive Bahraini economy.

 

A major e-service launched by Rera, the Aqari Data Bank is an integrated platform that provides real estate dealers with all necessary information about the sector. It offers precise and up-to-date real estate information to the government, private sector and investors. 

 

"Efforts to introduce such initiatives will continue to consolidate Bahrain's diversified, business-friendly and transparent investment climate, which will inturn strengthen the kingdom’s position as a sustainable destination for investment," 

 

"Aqari platform aims to provide the relevant government agencies with real estate sector indicators to contribute to facilitating appropriate decision-making, as well as to supporting those wishing to trade and invest in the real estate sector by making appropriate economic and investment decisions for them based on reliable and transparent information from official sources, said Rera CEO Shaikh Mohammed bin Khalifa Al Khalifa at the launch ceremony held today (December 26) under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

 

Aqari data bank aims to offer precise and up-to-date real estate information to the government, private sector and investors, he added. 

 

It operates through an integrated electronic platform providing information on the quantity and worth of real estate transactions, property specifics, maps, land classification, and locations of commercial complexes, healthcare facilities, and educational institutions. It is also within the National Real Estate Sector Plan (2021-2024).

 

This, he stated, contributes to achieving the principle of transparency for all investors and traders in the real estate sector, as they are constantly informed about its latest developments, which will raise the level of investor confidence and attract investments.

 

Shaikh Mohammed dubbed Aqari as a central, reliable national source for real estate information, that uses artificial intelligence and technology in the real estate field.

 

The platform will contribute to providing a lot of information depending on the nature of subscription to it, including obtaining an interactive map to display all real estate information in general, real estate development projects (off-plan sales), and real estate transactions, in addition to building permits, land classification, tourism and hotels (occupancy rate, average price of accommodation.

 

The Aqari Data Bank platform will also provide information about the ongoing infrastructure projects, a list of real estate professionals, built and unbuilt lands, status of buildings (occupancy rate, rented and unleased flats), and areas owned by foreigners, in addition to commercial complexes, archaeological monuments, educational, health and sports facilities, and other information of importance to the real estate investors, he added.-TradeArabia News Service