Investing in Bahrain - Property tax & market insight
Cluttons has partnered with Trowers & Hamlins to produce a guide to investing in the property market in Bahrain.
This has been a cross team effort, working with Trowers & Hamlins in Bahrain to simplify the obligations for those investing in the Kingdom’s residential and commercial markets. The document also includes an update on the residential and office markets in Bahrain and aims to provide a quick and easily digestible resource for all investors and purchasers.
Undoubtedly, as we enter the fourth year since the shock collapse in oil values, Bahrain is still working its way through a challenging period, with positive Government intervention programmes being rolled out across the Kingdom. The benefits of this intervention are being dampened somewhat by a slight widening in the country’s GDP-to-debt ratio, however there are some encouraging signs
The Government is putting the pieces of its vision for Bahrain into place and we are already seeing this in many segments of the economy. For instance, with the aid of the GCC Support Fund, the non-oil sector has remained buoyant, growing by 3.7% last year, lifted by wide-ranging infrastructure and construction projects around Bahrain (Oxford Economics). In fact, in early August, the Economic Development Board (EDB) announced that some USD 80 billion worth of construction and infrastructure projects are currently underway or planned for Bahrain, which is expected to help underpin economic growth over the short to medium term.
With this in mind, we wanted to delve further in to the investment obligations for Bahrain, given its emerging profile as not only a gateway to Saudi Arabia, but also its rising prominence in the central Gulf region.