Bahrain tendered projects hit $3.8bn in March 2016

Projects related to the GCC Development Fund are said to have driven an upswing in infrastructure investments. 

Notable sectors where investments have been made by the fund include housing ($2.1bn), utilities ($1.3bn), aviation ($1bn), and roads ($700m). 

Bahrain International Airport, 70% of which is funded through the fund, is due for construction by the UAE’s Arabtec and Turkey’s TAV contracting firms. 

The first quarter of 2016 has also seen a number of further developments in Bahrain’s manufacturing sector.

This includes numerous acquisitions and joint venture agreements completed by aluminium giant Mumtalakat, and the commencement of construction of Mondelez’s new facility in Bahrain. 

Non-oil economic growth has been on the rise in Bahrain, with the overall sector reporting 3.9% growth in 2015. 

Construction grew by 6.4% during the year, and contributed 7% to Bahrain’s GDP in 2015. 

These findings were revealed in Economic Development Board’s (EDB) Bahrain Economic Quarterly.

Construction was Bahrain’s second-fastest growing sector in Q4 2015, and its 6.8% year-on-year pace of growth in the quarter “marked a clear acceleration over 4.9% recorded in Q3”.

Khalid Al Rumaihi, chief executive of EDB, said: “Despite continued global challenges, a range of different indicators continue to demonstrate the resilience and potential of Bahrain’s economy.

“The non-oil sector accounts for more than 80% of the economy and the private sector contribution to growth continues to expand, showing the success of our long-term diversification efforts.

“The positive outlook is underpinned by Bahrain’s supportive business environment for investors, including a favourable tax regime, competitive operating costs and an experienced and educated workforce,” Al Rumaithi added.