Bahrian Real Estate

Bahrain is one of those countries lying in the western part of the Arabian Peninsula in Southwest Asia. Known to the world as the Kingdom of Bahrain, the country is an island surrounded by the Persian Gulf. It is the smallest state among the Arabian countries and as a result, it maintains only a minor importance to the worldwide economy. To its south lies Qatar and to its west are the vast territories of Saudi Arabia. At the moment, the main bridge that will link the isle to the rest of the Arabian region known as the Qatar-Bahrain Friendship Bridge is still being planned for construction. Despite its small size and population however, Bahrain remains to be a perfect venue for investment as it abounds with oil reserves and new opportunities for business ventures.

Bahrain enjoys a significantly high rate of twenty percent in terms of trade balance and its GDP experiences an annual growth of four percent, with an amount of almost nine billion dollars as of now. Its main export products are crude oil, chemicals, and manufacturing equipment. However, in the local setting, the most significant forms of businesses in Bahrain are its large oil refineries, located mostly in Sitra where the oil from Saudi Arabia is also processed. Surpassing the income derived from the countries own oil reserves, the oil refinery businesses most important source of revenue.

Since the discovery of its oil reserves in the early nineteen thirties, the settlers of Bahrain have enjoyed a competitively high state of living. It even offers subsidized housing and transportation subsidies to its citizens, not to mention unemployment insurance. However, since the early twenty first century, there has been a significant decrease in oil reserve revenues that comprises the bulk of the government revenue ever since. In response to such revenue threats, the government of Bahrain has decided to put up new sources of revenue and new sites for investments, both foreign and local.

Among these new ventures is the propagation and transformation of its land resources into agricultural sites. In the northern part of the country, weather condition and soil quality has proved to be fit for mass production of agricultural products. Aside from agricultural sites, the government of Bahrain also plans to put up ports that will prove to be a significant addition to its tourist attractions, while being an aid to improve trade opportunities.

Also, the government of Bahrain has been focusing its efforts into being a major banking and communications center in the Arabian Peninsula. As a result, the country has become a home for large multinational firms that cater to the foreign investors not only in their locale, but also to those that are situated in Saudi Arabia, Qatar, Yemen, and other neighboring countries.

In line with their goal to steadily increase state income, the government of Bahrain has set up laws that promote foreign investment. One of which is the Royal declaration in 2003, which allows foreigners to real estate property in some parts of Bahrain. Based on the said law, foreigners can purchase any real estate property in the land in Ahmed Al-Fateh, Bu Ghazal, Hoora, and other areas in Manama; and used such for residential or commercial purposes. Another significant move taken by the government of Bahrain is the passing of many laws and agreements that promote free trade. One of which is the signing of a Free Trade Agreement with the United States in 2004. As a result, Bahrain now has the freest economy in the whole Arabian Peninsula as shown in the Index of Economic Freedom made by the Wall Street Journal.