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Bahrain Real Estate Investment Stirred by Real Estate Boom |
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Tuesday, 08 August 2006 |
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It was prediction was made by the Abu Dhabi Investment House that the Lagoon Bahrain, a waterside commercial project at the heart of Amwaj Islands off the coast of Muharraq, would help in the development pace in the Kingdom following completion of the project in around 16 months.
ADIH chief executive officer Rashad Janahi said that the Kingdom's real estate sector is booming and major development projects have stirred local, regional and international investments. He also added that the freehold laws that allow foreigners to join Bahrain’s property boom and high returns on investments have become foundations of the fast growing eal estate sector in Bahrain.
There was a $1 billion Amwaj Islands project that emerged as one of the most successful business models in Bahrain’s history. Janahi reported that $90 million The Lagoon is set to be an iconic project with wide ranging social, environmental and economic benefits.
ADIH real estate executive director Nicholas Fraser said that they are working closely with the local authorities to ensure the on-time delivery of various services and provision of necessary amenities in line with the scheduled construction date.
The Lagoon is aimed to become a foundation for the Kingdom’s forward growth objectives. This will boost economic development by encouraging international investors to enter the market.
By M. Sese
http://realestatepress.org
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