Deputy Premier patronises conference

Manama, June 3 (BNA): The Government is mulling a plan to set up a national regulatory real estate authority, it was revealed. "The Government is studying different options to establish the panel which will regulate the real estate sector and disseminate best practices", said Deputy Premier Shaikh Khalid bin Abdulla Al-Khalifa. The Deputy Premier, also Chairman of the ministerial committee for reconstruction and infrastructure, announced the move as he patronised the opening of a key real estate conference at Four Seasons Hotel Bahrain Bay. Dalal Al-Zayed Consultancy Centre is holding the two-day conference under the theme "Real estate development – legal and economic vision".Addressing the inaugural session, Deputy Premier Shaikh Khalid bin Abdulla Al-Khalifa underlined the legal measures, which were endorsed recently, to regulate the real estate sector. "The promulgated legislations will consolidate the investors' trust in Bahrain's real estate sector, being a key pillar of the national economy and a major contributor to the Gross Domestic Product", he said, pointing out that Bahrain business-friendly environment would attract further capitals and investments. The opening ceremony was attended by Council of Representatives Speaker Ahmed bin Ibrahim Al-Mulla, Shura Council President Ali bin Salah Al-Saleh,, ministers, MPs, Shura Council members, senior officials and real estate specialists and stakeholders. He thanked members of the Council of Representatives and the Shura Council for their constructive cooperation to pass the legislations which regulate the construction sector, particularly the law on real estate development.