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Bahrain’s Real Estate sector bounce back around 20% in second half of 2020

January 24, 2021
real estate

Survey and Land Registration Bureau (SLRB) President and Board of Directors Chairman of the Real Estate Regulatory Authority (RERA), Shaikh Salman bin Abdulla bin Hamad Al Khalifa, said that the volume of real estate trading had amounted to BD 717,436,872 in 2020, compared to BD 808,934,154 in 2019, marking a decrease of 11%.

However, SLRB President said, the sector bounced back during the second half of 2020, increasing by about 14% and 20% in the third and fourth quarters, respectively.

Shaikh Salman bin Abdulla indicated that the results could be considered positive, given the exceptional circumstances created by the spread of the novel coronavirus (COVID-19) pandemic and its economic impacts.

He added that the positive results attained in the second half were the fruitful outcome of the measures taken by the government to support the economic activities, in general, and the real estate sector, in particular, noting that the government has been keen to strike a balance between enforcing precautionary measures to prevent the spread of the pandemic, and providing the appropriate environment to ensure the continuity of vital economic sectors, which contributed to their relative stability.

He pointed out that the adoption of digital work had played a role in facilitating transactions during such conditions.

He affirmed that the kingdom’s real estate sector boasts an investment-attracting environment, given the kingdom’s laws that protect the rights of dealers, and the support of the government for it.

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