Bahrain's Rera to launch Real Estate Data Bank pilot phase in Q1 2020
Real Estate Databank will provide investors and property developers accurate, timely data to make informed decisions
The Board of Directors of Bahrain’s Real Estate Regulatory Authority (Rera) has revealed that the Real Estate Data Bank – which aims to provide investors and property developers with accurate, reliable, and timely data in order to make informed investment decisions – is expected to launch on a pilot basis during Q1 2020.
According to the Bahrain News Agency, Rera believes that the Real Estate Databank will stimulate increased investment in the kingdom’s real estate market.
The board of directors, chaired by Shaikh Salman bin Abdullah bin Hamad Al Khalifa, president of Survey of Land Registration Bureau and Rera chairman, reviewed Rera’s business and operational activities, during the meeting.
The board commended the achievements of the Executive Management in the process of preparing and issuing the Bahrain Valuation Standards (BVS).
Shaikh Salman also thanked the board for the attention given by His Royal Highness Prince Khalifa bin Salman Al Khalifa, the Prime Minister, to the real estate sector and for the support of the Executive Committee chaired by His Highness the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister in the implementation of real estate programs and projects.