Bahrain real estate market 'to stay weak in 2011'
Manama, January 11, 2011
The real estate market in Bahrain will continue to be low in 2011 though there is a strong demand in the residential sector as a result of the local housing shortage and the increased interest in expatriate home-ownership, a key business forum was told.
Capital Club, Bahrain’s premier private business club, recently hosted a high-level business forum, ‘Bahrain Outlook 2011’, which was attended by senior representatives from all sectors in the kingdom.
Moderated by Jamal Fakhro, senior partner, KPMG, the discussion focused on the economic outlook for 2011 across the region and Bahrain in particular, and was led by regional and international specialists who shared their perspective on the future of the region and analysed the impact of the global downturn.
Speakers included Khalid Al Zayani, honorary chairman Al Zayani Investments; Christophe Mariot, regional head-structured finance, BNP Paribas; Don Bradley, chief executive, Knight Frank Middle East; and Salman Al-Jishi, president, Salman Group of Companies.
Bahrain will witness the launch of major investment projects which are already in the pipeline, a presenter said.
The kingdom’s market is expected to be diversified, where some segments of the economy will develop while others remain static. The Saudi market will continue to grow due to government support and investments, he said.
An expert said when compared to the other countries in the region, Bahrain still has great potential as a central business point due to its stable financial sector, business-friendly environment, logistical benefits and tax advantages.
The Business Forum is one of a series of meetings organized by the Capital Club to provide a platform for members to hear from experts, exchange views, and prepare their plans for 2011, taking into account the impact of the global financial crisis.
The business forum was sponsored by Bloomberg and Max Linnington. – TradeArabia News Service