Bahrain’s golden residence visa, which offers 10-years in the country and can be renewed, was announced as part of the country’s economic recovery plan and is expected to support the growth of the kingdom and increase the competitiveness of the kingdom, according to the Bahrain News Agency.
DRIVE REAL ESTATE INVESTMENT INTO BAHRAIN
The long-term visa is part of several plans expected to drive real estate investment into the country. From investments totalling USD 30 billion to introducing a list of regulatory reforms to boost FDI – coupled with the launch of tourism mega-projects, Bahrain’s real estate sector is set for a transformative year.
Earlier in February, real estate consultant CBRE noted that the value of property transactions rose by 46% year-on-year in 2021 to BD1 billion as reported by the Survey and Land Registration Bureau.
While the kingdom’s office space reached approximately 339,000sqm.
Looking at Bahrain’s retail sector, CBRE notes that there has been an increase in activity levels in 2021, with footfall surpassing their pre-pandemic baseline.
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