Bahrain could attract bigger investments as it offers government plots and properties to private bidders who can come up with innovative projects in the New Year, municipal officials have said.

 

They are expecting a huge turnover with more land and properties being made available in the coming months. Those on offer include public parks, gardens and walkways, as well as commercial buildings.

 

Bahrain launched an electronic platform, https://investmentland.gov.bh/ in March this year, in which government land and property were offered to interested bidders. As part of the first phase in March, 20 properties were listed on the platform – 10 for commercial, three for education, four for recreation and the remaining three were listed under the ‘general’ category. Now, there are six properties listed – with three in the Capital Governorate and one each in the Northern, Southern and Muharraq Governorates.

 

Capital Trustees Authority director-general Mohammed Al Sehli said urbanisation, development and growth were goals that would be achieved within the next four years.

 

“We need to achieve progress in partnership with the private sector, rather than just being dependent on our limited resources or revenues,” he said.

 

“Municipal lands are already on offer through the electronic platform and there is interest, but we are seeking more involvement.

 

“We are drastically shifting from the old habit, when a bidder comes in and wins municipal land before putting in a project that is in no way different from an existing one.

 

“We are now looking for innovative and attractive concepts that promote urbanisation, development and growth.”

 

Mr Al Sehli said a huge plot was being offered for investment in Tubli and another for a multi-storey car park in the Old Manama Suq, while more were on the way.

 

“The New Year will see us offering new plots and properties in prime locations and it will be great if investors lap it up for landmark schemes,” he added.

 

Mr Al Sehli pointed out that existing municipal properties were in demand because they had value for money.

 

“For example, around 86pc of the Lulu Shopping Centre, which is a municipal property that we directly deal with, has been leased out. Compared to the real-estate market locally, regionally and internationally, municipal properties are in demand and are in a healthier state,” he said.

 

“We have just launched an investment plan in 48 public parks, gardens and walkways in the Capital Governorate and it could be expanded as several businessmen are interested to take up spaces for cafés, pitches, sport courts, and other recreational and entertainment facilities. In all, we offer value for money that is unmatched.”

 

Meanwhile, Capital Trustees Board chairman Saleh Tarradah said the government has been easing procedures to attract investors.

 

“There is huge regional competition, but Bahrain has the appeal to attract good business opportunities,” he said.

 

“The electronic platform has helped a lot, while municipal facilities are also being offered directly. There are ambitions to fast-track projects as the country witnesses massive development, but quality matters,” he added.

 

mohammed@gdnmedia.bh

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