Bahrain: Growing demand to real estate projects
With over $6 billion infrastructure development projects in the pipeline, Bahrain’s building suppliers have been feeling the growing demand. This was the main reason for last week's announcement on the establishment of the kingdom's first cement plant. According to Bahrain Tribune, the Bahraini Area and Property Registration Service (BAPRS) announced that record numbers of real estate deals had been recorded in the first nine months of 2005.
The BAPRS said that the third quarter of 2005 had seen significant activity in real estate investments. Total real estate deals went up by some 25 per cent in value, year-on-year, jumping from $839.3 million in the third quarter of 2004 to $1.05 billion in third quarter of 2005.