Construction & Real Estate

While 2017 saw the construction sector’s rapid growth slow somewhat, Bahrain has an impressive pipeline of projects lined up for the next few years. A strong focus on transportation and industrial infrastructure, as well as the construction of tens of thousands of affordable housing units, is expected to be among the key drivers of growth for the sector in the near future, with much of this coming from government-backed projects tied to Bahrain’s Economic Vision. Strong real estate growth continues with a number of residential, commercial and hospitality developments coming on-line in 2017 and 2018. However, rental prices have not been immune to the ongoing regional challenges, notably lower oil prices, with rents dropping in 2017 for residential real estate, and remaining subdued for the office sector. Despite this, the overall volume of real estate transactions has grown, with strong demand from locals and residents from countries in the region.

This chapter contains an interview with Mohammed Khalil Alsayed, CEO, Ithmaar Development Company.