RELATED ARTICLES: Bahrain to advertise $11bn projects at Cityscape Global 2017 | Cluttons to advance Amwaj Gateway bargain in Bahrain | Alba, Bahrain ministries to body $3.7 association centre
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Bahrain's absolute acreage area grew by 4.5% in the aboriginal division of 2017, the kingdom's Economic Development Board (EDB) has found.
Growing appeal for residential and retail developments led the acreage sector's amplification during the period, back it contributed added than $1.7bn (BHD641m) to the civic economy.
EDB's annual address begin that absolute acreage affairs in the commonwealth grew by 15.2% in Q1 2017, back they were admired at $770m (BHD290.4m).
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The bulk is a 8.1% backpack over transaction ethics recorded in Q1 2016.
Hotels and restaurants fabricated accommodation the fastest-growing area in Q1 2017, recording 12.3% year-on-year (YoY) expansion.
Ministry of Apartment abstracts shows that 55,000 residential applications are currently awaiting allocation in the country, and the amount is estimated to abound by 5,000 annually.
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More than 17 accessible and clandestine apartment projects are currently beneath development in the kingdom.
Avenues Mall, a 83,700m2 architecture set to accessible after this year, is additionally accepted to drive retail absolute acreage advance in the kingdom, BNA reported.
This abstracts was appear on the heels of Bahrain's accord in Cityscape Global 2017, which opened in Dubai on Monday, 11 September.
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READ: Bahrain to advertise $11bn projects at Cityscape Global 2017
Mixed-use developments account added than $11bn (BHD4.1bn) will be showcased at Bahrain's pavilion during the three-day event, which is actuality captivated at Dubai International Convention and Exhibition Centre (DICEC).
Bahrain Economic Development Board (EDB), as able-bodied as the developers of Bahrain Bay, Diyar Al Muharraq (pictured), Durrat Al Bahrain, Canal View, and Bahrain Marina, will participate at the show.
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