02 Sep 2012
(MENAFN) Manama Municipal in Bahrain is mulling the construction of 50-storey skyscrapers along the seafront of the Seef District, Arabian Business reported.
The plan received objections from some residents and lawmakers in the area, saying that the urbanization of the coastal area and the increase in tall buildings will destroy the area’s skyline.
Real estate transactions in the Gulf Kingdom island increased nearly 60 percent year-on-year in the first half of 2012, the Al-Watan newspaper reported last month, citing statistics from the Survey and Land Registration Bureau.
The value of transactions during the first six months hit USD842 million, a rise of 59 percent compared to a year earlier, the report said.
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