Daih Real Estate Development Company, a leading player in Bahrain's property sector, said it has secured a real estate developer licence from the kingdom's industry watchdog Real Estate Regulatory Authority (Rera).

With this, Daih has become one of the first real estate development companies to be awarded these licences, thus strengthening its mandate to boost investor confidence and help consolidate an efficient and sustainable real estate market in the kingdom of Bahrain, said the company in a statement.

The recently-established Rera, the regulatory body that oversees the real estate sector of Bahrain, had awarded the licence to Daih in recognition of its commitment to fulfilling new standards set by the authority, commensurate with highest international standards.

This is in addition to the company’s commitment to implementing all legislation and regulations related to real estate development; especially Law 27 of 2017 concerning the Promulgation of the Real Estate Sector Regulation Law, it stated.

Akram Miknas, the chairman of Daih Real Estate Development Company, pointed out that the licence win was proof of the fruitful co-operation between the company and the Rera.

Set up in 2007 as one of Promoseven Holding company, Daih is presently working on 'Diyar Al Khair' project, one of the largest privately-owned affordable residential complex of its kind in Bahrain.

"We are committed to co-operating with Rera in achieving the common vision of both parties to  further developing the real estate sector and promoting economic growth and investment in Bahrain," he added.

Miknas said Bahrain’s efficient and sustainable real estate market was attracting investors from the region and the world, making the kingdom the preferred destination for real estate investments in an internationally-competitive real estate market.

"Through the promotion of investment and boosting stakeholders’ confidence, the Bahrain real estate market is building a stronger, more transparent and more efficient real estate ecosystem in the Kingdom of Bahrain," he added.-TradeArabia News Service