A master plan for Bahrain's real estate sector: Shaikh Mohammad
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
The real estate sector’s significant contributions to Bahrain’s economic progress are expected to grow more in the coming years. This came as the Real Estate Regulatory Agency (RERA) unveiled an ambitious national plan for the sector in the next four years, starting this year until 2024.
The most prominent details of the initiative were outlined by the agency during a press conference held remotely yesterday.
Taking part in the online discussion were RERA officials, led by its Chief Executive Shaikh Mohammed bin Khalifa Al Khalifa, and the industry’s major stakeholders.
The national mechanisms include initiatives, strategic plans and public policies, which have been formulated in consultation with relevant governmental and non-governmental agencies.
Shaikh Mohammed said the 2021-2024 national plan aims to provide a sustainable real estate investment environment in the Kingdom of Bahrain, encourage more projects using modern development methods, and raise the percentage of the sector’s contribution to the gross product (GDP) of the national economy.
Under the national plan, the agency will continue to develop government regulatory frameworks, procedures and services so that all stakeholders can ensure cohesive, secure, transparent and sustainable real estate sector growth.
It also encourages efforts to attract investments and develop innovative real estate projects, enhances the professionalism of practitioners in this field, and strives to preserve the rights of all stakeholders in this changing environment.
Related Posts