Office Spaces for rent in Diplomatic Area
The diplomatic district is one of the most popular commercial areas in Bahrain, as it is located within the central business district in Manama, the capital of Bahrain. Therefore, the real estate market is thriving in the diplomatic area, in particular, office space for rent in the diplomatic area.
Lots of people tend to start their own business, but it is difficult for them to easily own property, so a lot of office space is offered for rent in the diplomatic area at reasonable prices to help new businesses start.
Investment in Diplomatic Area
The commercial market in the diplomatic area is very active and diversified. The diplomatic area is considered the home of ministries, banks, and offices. The Diplomatic Area became one of the areas that have been very active and have appeared in the recent period in the real estate market after the government issued laws protecting tenants from real estate owners, this encouraged an increase in the demand for office space offered for rent in the diplomatic area.
The laws issued by Bahrain are not the only ones that contributed to the improvement of the real estate market, but the Central Bank played an important role in the recovery of the real estate market, as the Central Bank of Bahrain raised the ceiling for mortgage financing in Bahraini banks, and there was an opportunity to increase loans to the sector.
The provision of real estate financing in the Kingdom has also helped support the growth of the real estate sector, and encourage local and foreign investors to purchase residential units, commercial properties, and lands for sale.
What sort of offices for rent can you find in the Diplomatic Area?
The real estate market in the diplomatic area witnessed a diversification in terms of prices and spaces in the recent period, which led to a balance between supply and demand and encouraged investors and citizens to rent offices in the diplomatic area as it is a distinctive commercial place with reasonable prices and a variety of areas.
The diplomatic area offers offices from the first studios to five-room and larger offices, and duplexes as well as offering buildings for rent as well. All of this will depend on the nature of your business, and the space you want, most likely, to find it easily due to the diversity of the property in it.
Not only the diversity in the property, but the price has also become an important factor in attracting the investor, as the prices have become very reasonable and suitable for large and small investors, which helped the growth of real estate movement in the diplomatic area.
Average prices for offices for rent in Diplomatic Area
We also mentioned that the real estate market in the diplomatic area is very diverse since it is a more commercial area, it is most often spread in the offices offered for rent, the price varies according to the office space and location, it provides studio offices to offices with five rooms and more. The prices of office space for rent in the diplomatic area range from 500 Bahraini Dinars per month to 2500 Bahraini Dinars and the price is determined exactly according to the size and view. Note, this mentioned price is for unfurnished offices.
What attracts people to offices for rent in Diplomatic Area?
The diplomatic area is an area that is located within the Central Business District of Manama, the capital city of Bahrain, an island kingdom in the Persian Gulf.
Constructed on reclaimed land in the 1970s and gradually expanding in the 1980s, the Diplomatic Area is Manama's financial district, housing hundreds of banks, investment firms, and Takaful societies that serve the entire Persian Gulf. It is mainly composed of high-rise office blocks and government buildings
Therefore, it is intended by investors, business leaders, and novices when buying rent for a commercial property, as it is a stop for attention in the field of various businesses.