Bahrain: Land prices up by 400%

Published April 21st, 2005 - 09:31 GMT
Al Bawaba
Al Bawaba

According to Al-Yaum newspaper, speakers in a recent workshop about reforming the work in the Bahraini market said that the land prices in the Kingdom had jumped by 400% over the past four years. They added that the small-sized projects are no longer able to bear their expansion project costs. Mr. Ali Al-Saleh, Minister of Municipalities Affairs and Agriculture, said that a recently prepared survey by the Economic Development Council and the Chamber of Commerce reveals that the land affordability is now the core obstacle for economic development in Bahrain.