Bahrain’s decline as regional financial centre ‘to affect property sector’ | The National:
"Bahrain “will not regain its status as the region’s leading financial centre” amid fierce competition in the Arabian Gulf, thus hurting its property market, says the latest country report by Business Monitor International (BMI).
The country’s historical position as the regional centre for Islamic finance is being challenged by Dubai, while banks in Abu Dhabi, Qatar and Saudi Arabia have been competing strongly against the banking sectors in Bahrain and Dubai, according to the market research company.
“As a major driver of real estate investment in Manama, the failure of Bahrain to regain its status will drag on demand for major new office space and high-end residential building,” said BMI."
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