Bahrain’s government is mulling a plan to set up a national real estate regulatory authority, it was revealed yesterday (June 3).

“The government is studying different options to establish the panel which will regulate the real estate sector and disseminate best practices,” said Deputy Premier Shaikh Khalid bin Abdulla Al Khalifa, in a report in the Gulf Daily News (GDN), our sister publication.

The Deputy Premier, also chairman of the ministerial committee for reconstruction and infrastructure, announced the move as he patronised the opening of a key real estate conference at Four Seasons hotel Bahrain Bay.

Dalal Al Zayed Consultancy Centre is holding the two-day conference under the theme “real estate development – legal and economic vision.”

Shaikh Khalid underlined the legal measures endorsed recently to regulate the real estate sector.

“The promulgated legislations will consolidate investors’ trust in Bahrain’s real estate sector, being a key pillar of the national economy and a major contributor to the gross domestic product (GDP),” he said.

The ceremony was attended by parliament chairman Ahmed Al Mulla, Shura Council chairman Ali Saleh Al Saleh, ministers and senior officials. - TradeArabia News Service