Bahrain’s real estate transactions value rose by 46% in 2021 to USD2.8 billion, compared to USD1.9 billion in 2020, according to figures released by Bahrain’s Survey and Land Registration Board. The total number of real estate transactions in 2021 was 26,136, an increase of 35% over the 19,405 transactions completed in 2020.
The growth coincides with several major developments, including Bahrain’s recently announced National Economic Recovery Plan. The plan aimed to drive economic growth based on five main pillars, including the launch of strategic projects valued at over USD30 billion in various sectors, including infrastructure, industrial, housing, tourism and healthcare.
The housing segment of the plan includes the ‘Sharaka’ programme, which allows private developers to bid for contracts for government land, in line with the government’s commitment to strengthen its partnership with the private sector and providing quality houses for citizens. The programme is set to expand over the coming years to include more than 16,000 housing units.