Trading in Bahrain’s real estate market surged by 45 per cent over the past nine months, compared with the same period last year.
According to official figures released by the Survey and Land Registration Bureau (SLRB), the overall trading in the real estate sector topped a record BD1.008.203.404, from January up to late September 2014.
SLRB President Shaikh Salman bin Abdulla Al-Khalifa described the real estate boom in 2014 as being unprecedented, compared with trading results in past years.
Trading in the real estate market soared by 47% in the third quarter of 2014, to top BD 285.534.287, as compared with third quarterly results last year.
"The positive economic outlook fostered confidence among Bahraini businessmen", Shaikh Salman bin Abdulla Al-Khalifa said, stressing the importance of the positive results in encouraging GCC businessmen to invest and trade in Bahrain’s real estate market.
According SLRB figures, GCC investments topped 98% by the end of September 2014, while foreign investments in the real estate sector increased by 34%.
SRLB President paid tribute to His Majesty King Hamad bin Isa Al-Khalifa for laying the foundations of a modern state of law and institutions.
He also commended His Royal Highness Prime Minister Prince Khalifa bin Salman Al-Khalifa and His Royal Highness Prince Salman bin Hamad Al-Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier for their support and follow-up.
"The Government-led policies to incorporate modern administrative concepts and foster excellence have come to fruition", he said. .
SLRB President Shaikh Salman bin Abdulla Al-Khalifa has also approved the e-real estate document, which will play a crucial role in reducing the waiting time for transactions to be processed.