Bahrain’s infrastructure projects valued at $32bn

The country to showcase $11bn worth key real estate projects at Dubai event

Bahrain has a pipeline of large-scale infrastructure projects, valued at $32bn, across a wide range of sectors.

The Bahrain EDB’s economic quarterly report revealed growth in the sector reached 4.5% in Q1 2017, contributing over $1.7bn to the economy, according to TradeArabia, quoting industry reports.

"Recent figures demonstrate the resilience of the kingdom’s real estate sector, and highlight the increasing demand for housing, not only in Bahrain but across the wider region," the report quoted Khalid Al Rumaihi, chief executive of Bahrain Economic Development Board (EDB).

Real estate transactions in Bahrain grew by 15.2% in the same period, reaching a total value of $770mn, an 8.1% jump compared to the same quarter in 2016. The retail and hospitality sector also witnessed rapid growth, while the hotels and restaurants sector emerged as the fastest growing sector during Q1 2017, recording a 12.3% year-on-year real rate of expansion. Furthermore, statistics published by the Ministry of Housing showed the number of residential applications pending allocation of units currently stands at 55,000, and is estimated to grow by 5,000 each year, and are driving the high demand for residential units in the Kingdom. Additionally, the influx of visitors to Bahrain in recent years has also contributed towards a growing demand for tourism and retail facilities, the report said. In 2016, the total number of arrivals to Bahrain increased by 6% from 2015 to 12.2mn visitors. The Kingdom welcomed 5.6mn tourists to Bahrain in H1 2017, according to Bahrain Tourism and Exhibitions Authority (BTEA), representing a 14% increase from the same time last year. An array of key Bahraini developments will take centre stage, highlighting the Kingdom’s rapidly growing real estate sector, including EDB in the Bahrain pavilion at Cityscape Global, which opened today in Dubai.

The projects include $2.5bn Bahrain Bay waterfront district, progressive urban development Diyar Al Muharraq including the iconic Dragon City, island city Durrat Al Bahrain, Canal View – a canalside living in Dilmunia, and Bahrain Marina, a trendy waterfront development in Manama.

Housing developments, both social and private, have also increased in recent years, with 17 housing projects currently announced. Another key project is Avenues Mall, a 83,700 sqm building to be opened later in the year, as well as other retail developments including Bahrain Marina and mixed-use development areas such as Bahrain Bay and Water Garden City.