Real estate experts in Bahrain have claimed that the confidence of the developers of Bahrain’s mega projects has boosted due to the rising demand on retail and tourism sectors.
The annual construction growth rate in Bahrain hit 4.5% in 2015, moreover, the kingdom has witnessed the influx of about 11.6 million tourists during the same year.
The vibrant tourism activity spurred demand on residential, hospitality, and retail properties. Hence, Bahrain has been able to solidify its reputation as a real estate haven for international investors.
Commenting on these figures, Dr. Maher Al Shaer, the CEO of Diyar Al Muharraq, said that Bahrain real estate is still a safe haven for investors.
He added saying that Bahrain has witnessed a significant surge in real estate projects including the launching of new malls, luxury hotels, and mixed-use developments.
This contributed in increasing Bahrain attractiveness as a comprehensive and entertaining tourism destination, according to Al Shaer.
Bahrain tourism sector experienced a growth of 11 percent during 2015, revenues generated from tourism sector are expected to reach 1 billion dollars in 2020.