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FINANCIAL NEWS
Bahrain’s foreign ownership move to enhance property market
21 Jul 2016
(MENAFN) Bahrain’s decision to allow foreigner investors to fully own in various sectors of the market is expected to have a positive effect on the kingdom’s property markets.
In detail, the new law gives foreigners the green light to own 100% in residency, real estate, administrative services, health and social work, information and communications, and other technical activities.
“The government’s decision to allow 100 per cent foreign ownership is an important development for Bahrain”, the head of Cluttons Bahrain and Saudi Arabia said.
“Economic growth in the country had been subdued ever since oil prices fell from record highs two years ago and the announcement will likely have positive implications for business”, he added.
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