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August 28, 2016 | 12:30 | Dubai
The GCC still holds its place as an attractive investment haven, especially for international investors, according to the head of a real estate company. Dr Maher Al Shaer, Chief Executive Officer of Diyar Al Muharraq, one of Bahrain’s largest, most visionary and progressive urban developments, says: “Real estate still remains a safe investment option, especially in this region.” “There is a fast-expanding population, high spending power and the quality of life remains very appealing for foreigners looking for better employment opportunities. All these factors provide a great framework for the real estate industry to thrive,” he added.
“If we look at Bahrain, there has been a surge in real estate projects as well as construction and retail industries with new malls, luxury hospitality offerings and the recovery of mixed-use developments previously put on hold,” added Dr Al Shaer. “There has also been a surge in tourism motivated by a local drive to further Bahrain’s attractiveness as an exciting, all-encompassing destination for regional and international visitors. This is a great booster for the real estate sector.” According to REIDIN, Bahrain’s tourism sector experienced 11% growth in 2015 and this trend is expected to continue, generating revenue of $1 billion by 2020. This trend, combined with the government decision to allowing foreigners to acquire 100 per cent ownership of businesses in Bahrain will spur growth in the property.