Real estate has positive role in strengthening national economy

Manama, November 20 (BNA) The Deputy Prime Minister and Chairman of the Ministerial Committee for Development and Infrastructure Projects Sheikh Khalid bin Abdullah Al Khalifa announced that the Kingdom of Bahrain, under the leadership of His Majesty King Hamad bin Isa Al Khalifa, and the follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and President Ministers are particularly important to the real estate sector.

He pointed out that this interest enables it to continue to play its positive role in strengthening the national economy, raising its contribution to the gross domestic product, and attracting more investors and visitors to the Kingdom.

The national real estate policies have proven their effectiveness, and this is evidenced by the encouraging indicators that herald further progress and prosperity for this vital sector, which achieved in the second quarter of this year a positive nominal growth of 3% on an annual basis. While it contributed 4.9% to nominal GDP during the same period, he said while inaugurating the Canal View project on the island of Dilmunia.

Sheikh Khaled said that the real estate sector has become an integrated system and is now more than ever protected by the law regulating the real estate sector.

He added that it provides clients with many incentives and benefits related to legal arrangements such as competitive rates on rental returns and allowing freehold ownership.

The government encourages developers to launch more real estate projects with integrated services and equipped with the latest and most modern equipment that meets the needs and tastes of different segments, especially projects that can be included in plans, cooperation and partnership between the public and private sectors. sectors, he said.

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Sheikh Khaled added that this will contribute to finding broader housing solutions for citizens wishing to benefit from immediate services.

Canal View is developed on an area of ​​13,068 square meters and offers a range of residential options from 1 to 4 bedrooms. This luxurious accommodation is located a short walk from Mall of Dilmunia.

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