Published on 07 September 2005 at 08:10 pm
Filed under: Middle East:- Bahrain Property Guides » Bahrain for Property Buyers
An island nation in the Persian Gulf of intense strategic importance, Bahrain is also an interesting emerging real estate economy with incredible opportunity for property investors and developers alike - this is a general country guide to Bahrain for property buyers.
The economy of Bahrain which was once driven by oil has quickly been diversified; the country’s government understood and reacted to the requirement for economic change very swiftly. It resulted from dwindling oil supplies and nowadays the country has a successful petroleum processing and banking based economy and an emerging real estate economy.
The diversification into the luxury real estate marketplace is really just emerging - developments such as the Two Seas offshore island development are beginning to take shape on paper and it was recently announced that foreign buyers entering the real estate market in Bahrain will be able to own 100% freehold title in certain designated areas, which has sparked a new wave of investor interest.
Here is our general guide to the country of Bahrain for potential property buyers.
Bahrain is located east of Saudi Arabia and is connected to Saudi via the King Fahd Causeway. To the south of the country is Qatar and currently the two nations are in the process of constructing what will be the largest fixed link in the world when completed, namely the Qatar-Bahrain Friendship Bridge.
Bahrain is a Kingdom and a constitutional monarchy, it has a prime minister and women were granted the right to vote and stand for election back in 2002. Depending on the area of the country you visit or reside in, it can either feel very cosmopolitan and modern or incredibly traditional. The capital of the country is Manama and it’s a city inhabited by many expatriates who generally enjoy a fantastic and lively pace of life.
The multinational expatriate communities have access to English language TV and don’t struggle with the country’s official language which is Arabic because English is very widely spoken and understood and is of course the international business language used day to day in the office in Bahrain.
The quality of life achievable for Westerners is first class, they have access to the likes of state of the art cinemas, golf courses, ice rinks, go-karting centres, bowling alleys, a huge array of sporting facilities and events - and of course shopping!
Shopping is a cultural attraction in itself in Bahrain with luxury end boutiques mingling with traditional gold and craft sellers in the main city of Manama for example, and a number of purpose built shopping malls have been built in recent years attracting the shopaholic tourist in search of tax free goodies and beautiful local jewellery.
All in all Bahrain offers the perfect mix of mystic and traditional East meets open and modern West; as a result the developments in the real estate sector relating to foreign freehold ownership of land and property in particular have resulted in an intensification of an already sharp and keen interest in Bahrain from individual and corporate real estate investors from around the world.
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