Due to an oil boom in the region, Bahrain has become the fastest growing economy in the Arab world according to the  United Nations Economic and Social Commission for Western Asia (January 2006). The Index of Economic Freedom published by the Heritage Foundation / Wall Street Journal, also stated in 2006 that Bahrain has the freest economy in the Middle East and is the 25th freest economy in the world.

60% of export receipts come from petroleum production and processing and between them they also accounts for 60% of government revenues, and 30% of GDP. The economy of Bahrain has fluctuated and is very dependant on oil prices as not only does Bahrain produce oil, but it also a major tourist attraction for neighbouring Arab countries and when these countries boom, so does Bahrain. Bahrain has a highly developed communication net work with virtually unrestricted Internet access and broad band readily available in most 5 star & 4 star hotels. Bahrain is also home to numerous multinational firms who take advantage of the liberal tax laws, Vibrant night life and western lifestyle available. Unemployment is a major problem among the young, and the depletion of both oil and underground water resources are major long-term economic problem which Bahrain must face.

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Dadabhai Construction announces plans to launch new BD 20 million waterfront Housing & Development project in Bahrain

Dadabhai has announced its plans to launch a new BD20 million waterfront Housing and Development project in Tubli, Bahrain. Spread over 140,000 square feet this forward looking housing and development project will be marketed by Pegasus Realty. Furthermore, Habib Modara Consultants will be the lead consultants for the project. Key facilities and amenities forming part of this residential development include a health club, three swimming pools, a business centre, restaurants and a sea facing landscaped terrace with a coffee shop. The project is estimated to be completed in 20 months post receipt of all approvals.

 

Durrat Al Bahrain hits major milestone with land reclamation almost completed.

Durrat Al Bahrain, the Kingdom’s largest planned residential, leisure and tourist resort, has reached a major milestone with the completion of land reclamation on the 12 islands that come together to create the one-of-a-kind US$3 billion resort city, as revealed by the latest aerial photographs taken of the landmark project. This includes the completion of its uniquely designed five Petal Islands, six Atoll Islands and a stand-alone island formation - set to house a five-star family resort and a water park - which is located between the mainland crescent, the commercial heart of the project, and the outer islands. With the conclusion of dredging and reclamation on the islands, the resort community has now taken the dramatic shape of the project’s masterplan, setting the stage for the next phase of work on the development.