Savills, a leading consultancy firm, has been appointed real estate advisor to the Committee for the Settlement of Stalled Real Estate Projects in Bahrain.

Announcing the appointment, the Supreme Judicial Council of the Ministry of Justice and Islamic Affairs and Waqf said Savills will also act as exclusive sales agent for the project.

Founded in 1855 in the UK, Savills, has over 700 property consultancy offices and 30,000 staff around the world.

Its office in Bahrain is headed by Donald Bradley a well-known figure in the regional property market and who has advised on a wide range of development projects during his 34 years in the Gulf region.

Savills advises clients in every aspect of the property life cycle from investment and development through to asset management and disposal of real estate.

On the unique appointment, Bradley said: "This is a really special appointment and shows the determination of the Judicial Committee to adopt a best practice solution to a range of strategies for the stalled real estate projects which are overhanging the market."

"We are now in a period of market consolidation where development projects will have to be properly organised and those which have issues are professionally handled and relaunched into the market. This is a really major step for the authorities and will provide a work out plan and perhaps a precedent for other projects," stated Bradley.

"We look forward to working with the Government and the Judicial Authorities on this matter and our top team is now fully committed to bringing about the best possible solution for all concerned," he added.-TradeArabia News Service