Manama—Agencies
The Kingdom of Bahrain is experiencing a major boom in real estate investment, as recent statistics reveal that the Bahrain Investors Center registered 109 new real estate companies in the Kingdom of Bahrain over the past year, representing an increase of approximately 182%. with total capital exceeding 35 million dinars. Domestic investment accounted for 59% of this amount, while foreign and Gulf capital totaled 14.3 million dinars.
The statistics indicate that a number of the newly established companies are owned by major real estate development firms, including three subsidiaries of the Diar Al-Muharraq project, and «WGC 37 Real Estate,» which is the largest registered company, as well as a real estate company owned by Al Ahli United Bank.
Data from the Bahrain Investors Center shows that 109 companies operating in the real estate sector were registered last year, an increase of 182% compared to 2012, which saw the registration of 60 real estate companies at the time, It is also higher than the number of companies registered in 2011, which stood at 53 at that time.
In terms of the registered capital of real estate companies, the total registered capital of real estate companies in 2013 amounted to approximately 35.1 million dinars, which is about 6% less than the total capital of companies registered in 2012, which amounted to approximately 37.4 million dinars.
Figures from the Investors Center show that the volume of domestic investment (by individuals or legal entities) in registered real estate companies last year amounted to approximately 20.8 million dinars, equivalent to 59.2% of these companies’ total capital, while Gulf capital amounted to approximately 1.75 million dinars, accounting for 5%, and foreign capital amounted to 12.6 million dinars, accounting for 35.8%.
Although the number of companies registered with Gulf capital in 2013 was limited—amounting to approximately 1.7 million dinars, compared to approximately 12.6 million dinars in foreign capital—the sector is expected to perform better this year.
