Bahrain real estate trading hits record $2.2bn
Manama, January 12, 2014
Real estate trading volume in Bahrain reached BD861.9 million ($2.27 billion) last year, a 30 per cent increase over 2012, marking the highest level ever recorded in the kingdom, said a top official.
Trading volume increased by 6 per cent during the last quarter of last year compared with the same period in 2012, Registration Bureau president Shaikh Salman bin Abdulla Al Khalifa was quoted as saying in the Gulf Daily News, our sister publication.
Work on 2,450 homes to start soon
Meanwhile, work will soon start on 2,450 housing units in Northern Town and Al Louzy, said Housing Minister Bassem Al Hamer as he visited the areas to inspect preparations.
Under an agreement signed with Naseej Properties, 1,618 homes will be built in the Northern Town.
The ministry has already started work on 530 units as part of the first stage of the project, bringing the total number of homes to 2,148.
Naseej Properties is also expected to start work on 832 units in Al Louzy. The minister and senior officials were updated on the new generation units – a scheme which will be the cornerstone of the upcoming five-year housing plan. – TradeArabia News Service