Advisory Center for Affordable Settlements & Housing

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Advisory Center for Affordable Settlements and Housing
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Bahrain: Homing in on Construction Growth

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Publish Date10/05/2006
Author
Published ByZaigham Mahmood Rizvi
Edited ByTabassum Rahmani
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Bahrain: Homing in on Construction Growth

The document on construction growth in Bahrain. The construction sector looks set to receive a welcome boost, with Bahrain’s state and private developers planning to increase investments in residential projects to meet the growing demand for affordable housing. According to a recent report by the Economic Development Board (EDB), almost 350,000 new residential units will need to be added to existing stock by 2030 to keep up with the growing demand for affordable housing in the Kingdom. Currently, the report said, there is a deficit of 40,000 units, a figure set to swell in coming years if the state and private developers do not move quickly. Total housing demand is expected to increase to 263,536 housing units in 2020 and then to 346,718 in 2030 from the current stock of 145,181,” the EDB forecast in its report, which was released in late November. To clear this backlog and meet the new calls for affordable housing units, at least $1.1bn will have to be spent every year up to 2020, and then $242m annually up to 2030, the EDB stated.

 

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