RERA: 461 Real Estate Manager Licenses Issued Since 2019, 154 Revoked

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

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Bahrain's real estate sector is experiencing a period of significant growth and transformation, according to the Real Estate Regulatory Authority (RERA). In a recent report, RERA highlighted key figures illustrating both the expansion and the ongoing refinement of the industry.

Since 2019, RERA has issued 461 licenses for real estate managers. While this demonstrates considerable activity, the authority also noted that 154 of these licenses have been revoked, indicating a process of ongoing regulatory oversight and industry adaptation.

Similarly, 155 licenses have been granted to real estate appraisers, with 54 revocations.

The report further detailed a robust development pipeline. RERA has approved 27 real estate development projects, with six already completed.

One developer voluntarily surrendered their license, highlighting the dynamic nature of the market and the agency's commitment to maintaining high standards.

The increasing number of Owners' Associations, reaching 560 compared to 547 in June, underscores the growth in the number of completed projects and the evolving landscape of property ownership in Bahrain.

To streamline processes and enhance efficiency, RERA has launched new online services via the Bahrain.bh portal.

These services facilitate the issuance and renewal of licenses, the addition of Owners' Association management activities, and the updating of contact information.

This digitalization initiative aims to improve transparency and accessibility for all stakeholders in the real estate sector.