Bahrain keen to boost sustainable real estate practices with innovation and transparency
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Reported by Ashen Tharaka
Bahrain’s real estate sector can forge strong partnerships by embracing digitalization, investing in infrastructure, and increasing stakeholder awareness. The Minister of Sustainable Development, HE Noor Bint Ali Al Khulaif, made this statement in her opening remarks at the Cityscape Real Estate Innovation Award ceremony held at the Exhibition World Bahrain yesterday.
Stakeholders in the Bahraini real estate sector have been calling for greater transparency, and the government has responded by implementing measures to promote sustainable development and sound real estate practices.
The National Real Estate Plan 2021-2024 provides a roadmap for achieving these goals, and the Cityscape Real Estate Innovation Competition, launched in collaboration with the private sector, is expected to further accelerate progress in this area. Digitalization is another key factor in achieving sustainable development goals in the real estate sector.
The adoption of digital technologies, such as artificial intelligence (AI), can help to improve efficiency, reduce costs, and enhance transparency. “Bahrain is the best place to achieve all the requirements in the real estate ecosystem,” stated the minister. “We have a strong track record of innovation and sustainability, and we are committed to creating a world-class real estate sector that benefits all stakeholders.”
The Minister also highlighted the importance of attracting partners to the Kingdom of Bahrain by expanding cooperation with the private sector. Cityscape Bahrain, a major real estate exhibition held in the kingdom, provides an opportunity for all stakeholders to explore the future of sustainable real estate in Bahrain and the transformations required.
With its commitment to innovation, sustainability, and transparency, Bahrain is well-positioned to become a leader in the global real estate market. The government’s initiatives and the private sector’s involvement are creating a vibrant ecosystem that is attracting investment and driving growth.
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