Ben Novak

Local Demand to Push Bahrain Construction Market in 2011 and Beyond

A multitude of factors have affected real estate in Bahrain. Before the political crisis, Bahrain was faced with the global financial meltdown that emanated from the sub-prime crisis. The crisis had an adverse effect on liquidity and its availability, among other things. This negatively affected the real estate globally because people were reluctant to invest. Bahrain was also affected by the crisis and the value of real estate dropped.

Bahrain’s Internal Challenges

Mr. Al Mardi talks about Bahrain’s internal challenges as multicultural society and the future implications for Marcopolis Bahrain report. Despite the occurrences over the past 6 months, Al Mardi believes that perseverance is necessary as is the commitment, dedication and cooperation of all residents and citizens of Bahrain.

Diversification of Bahrain’s Economy

Bahrain was the first country in the GCC where oil was discovered. Over the years the revenues from oil and gas sector was used to propel Bahrain’s economic growth and diversification. Bahrain is No.1 country in the GCC in human development. Currently, oil and gas sector contributes only 24% to the GDP and at constant prices only 12%.

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