Amwaj has ‘overtaken’ Manama in property transactions

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Staff Reporter

In a development signalling a major shift in the real estate sector, the pre-COVID statistics released by the Survey and Land Registration Bureau shows that Amwaj has taken the lead over Manama when it comes to property transactions.

Amwaj constituted 5.39 per cent of the total property transactions across the Kingdom while Manama was closely behind at 5.01 per cent.

Hidd comes third at 4.96 per cent.

The share of other leading areas was Diyar Al Muharraq (3.62pc), Madinat Hamad (2.83pc), Sadad (2.31pc), Malkiya (2.20pc), Durrat Al Bahrain (2.20pc), Tubli (2.16pc) and Muharraq (2.14pc).

Speaking to The Daily Tribune, Hazeeth Hari of Mikal Real Estate said the trend could be attributed to ongoing urban development, comparatively less prices and an increase in real estate investments from the part of expatriates in the Kingdom.

“If you see, urban development is happening in Amwaj and neighbouring areas. Iconic projects like Marassi Al Bahrain are being implemented in the area.

Dragon City, a prime shopping destination for both expatriates and citizens, also lies in the proximity.”

Hari said the price variation was also a motivating factor behind the ‘Amwaj influx’.

“A two-bedroom apartment in the Manama-Juffair area would cost nearly BD60,000 while a similar property could be bought in Amwaj for BD50,000.

The price difference is a major factor,” Hari said.

Increasing investments by expatriates also served as an impetus for Amwaj to take the lead over Manama.

“There is an increasing trend among the expatriates - investors or potential investors to buy properties in less-crowded areas.

And this is undoubtedly benefitting Amwaj,” Hari said.