Bahrain introduces real estate data service for investors

Reuters/Hamad I Mohammed

• Property valuations
• Interactive maps
• Information on transaction volumes

Bahrain’s Real Estate Regulatory Authority has launched an online service providing investors with data on the kingdom’s real estate sector.

Aqari Data Bank uses artificial intelligence to give up-to-date information on transaction volumes, property valuations, land classifications and the locations of commercial complexes, healthcare facilities and educational institutions.

The subscription-based platform provides interactive maps and a directory of real estate professionals.

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Sheikh Mohammed bin Khalifa Al Khalifa, Real Estate Regulatory Authority’s chief executive officer, said the service will help the kingdom to achieve “transparency for all investors and traders in the real estate sector… which will raise the level of investor confidence and attract investments”.

Bahrain’s real estate market has seen moderate growth this year, helped by initiatives such as permitting foreigners to own property in designated areas, and new tax incentives, according to Knight Frank.

Real estate transactions increased by 5 percent in the first nine months of 2023 and the overall value of transactions rose almost 2 percent to BHD 814 million ($2.16 billion).

Data released this week by the Information and eGovernment Authority shows that Bahrain real estate activities rose 5.4 percent year on year.