|08 April, 2020

Probe into real estate ‘stagnation’ in Bahrain extended

MPs have called for the committee to be suspended due to the Covid-19 crisis

MPs yesterday extended by four months a probe into economic and real estate “stagnation” in the country.

The investigation focuses on six core issues.

They are: Closure of several local businesses; cancellation of commercial registrations (CRs) by the owners; a rise in the number of dud cheques; an increase in the number of financial disputes in courts; visibly empty shops and apartments; and failing projects in the real estate sector.

However, some MPs have called for the committee to be suspended due to the Covid-19 crisis.

“When the market was in stagnation for unexplained reasons there was something to investigate, but now things are different with Covid-19 and there is nothing to look into,” said Mahmood Al Bahrani.

The government needs time to help rejuvenate the market and our investigation wouldn’t achieve anything.

© Copyright 2019 www.gdnonline.com

Copyright 2020 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.