Mubasher: The new Bahraini law that gives 100% ownership to foreign investors in various market sectors will have a positive impact on the property market, a report by Cluttons has said.
“The announcement will likely have positive implications for business. The move will also improve investor confidence and make Bahrain an attractive place to work and live in," Harry Goodson-Wickes, head of Cluttons Bahrain and Saudi Arabia commented.
The new law will allow 100% ownership in residency, real estate, administrative services, health and social work, information and communications, manufacturing and technical activities amongst others, the company stated.
“The decision is likely to attract companies to set up a Middle East foothold in the Kingdom and for the first time puts Bahrain on a competitive footing with some of the region's mega free zones and business hubs,” Faisal Durrani, head of research at Cluttons said.
