The value of properties sold in Bahrain has jumped as demand surged amid the local government’s post-COVID-19 economic recovery efforts.
Total real estate transactions reached $2.8 billion in 2021, registering a 46 percent jump compared to $1.9 billion in the previous year, according to figures released by Bahrain’s Survey and Land Registration Board.
The total number of real estate transactions also surged by 35 percent to 26,136 in 2021 compared to the previous year.
“The growth coincides with several major developments [in Bahrain],” a statement said on Monday.
The government has recently unveiled its National Economic Recovery Plan, as well as the Strategic Projects Plan, which seeks to invest more than $30 billion in infrastructure, industrial, housing, tourism and healthcare sectors.
The housing segment of the economic plan features a programme called Sharaka, which allows private developers to bid for contracts for government-owned land. This is part of a strategy to provide quality housing for citizens.
(Writing by Cleofe Maceda; editing by Seban Scaria )
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