Bahrain's Rera says real estate firms to apply for license by 2 November
Developers, off-plan sales developments, brokers, sales agents, property, and owners’ association managers require license
For real estate stakeholders in Bahrain the last date to apply for license is 2 November 2019, with the chief executive officer of the kingdom’s Real Estate Regulatory Authority (Rera), Shaikh Mohammed bin Khalifa Al Khalifa having said that the licensing, professionalising and regulating the sector is necessary.
Bahrain’s state-owned news agency, BNA cited the Al Khalifa who said that on 1 March 2019 — when Rera was launched — the major focus was on the licensing of developers, off-plan sales developments, real estate brokers, and sales agents.
In Q4 2018, the 2018 licensing requirements, and regulations were extended to property managers, and owners’ association managers.
He added that it was a legal requirement for all providers of real estate valuation to hold a Rera license.
The BNA report said that, all licensed real estate valuation service providers were required to attend the Valuation Standards, and Regulations course which will be organised on 20 and 21 November in English, and on 24 and 25 November in Arabic.