Latest news with #KarimYazji
Zawya
a day ago
- Business
- Zawya
Bahrain: New regulations by Rera commended
Bahrain - The Real Estate Regulatory Authority (Rera) has introduced new regulations requiring owners' associations of residential and commercial buildings to hire specialised companies to manage common areas, a move welcomed by local firms. ASK Real Estate described the decision as a significant step in elevating the real estate sector and promoting sustainable urban development. In a statement, the company said the new regulations would enhance the efficiency of property management services and protect the rights of owners. ASK Real Estate chief executive Karim Yazji said the regulations 'set higher standards for property management and promote better transparency.' He added that the new rules provide clear guidelines for licensing companies that manage common areas, outlining their responsibilities and required expertise, which will 'build trust among property owners and investors.' Mr Yazji said this initiative will improve services and strengthen governance within owners' associations. 'We are fully committed to aligning with the new regulatory standards,' Mr Yazji said. 'We are ready to deliver integrated, high-quality management services to owners' associations according to international best practices. This decision marks a new chapter in Bahrain's real estate development and urban progress.' Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
24-06-2025
- Business
- Zawya
Bahrain real estate sector to remain resilient
Bahrain's real estate sector is poised to maintain stability despite global market volatility, including shifts in tariffs and fluctuating oil revenues, according to a new report by ASK Real Estate. Offering an overview of the global, Gulf, and Bahraini economies, with a particular focus on real estate performance and related sectors, the Q1 2025 report suggests that while these macroeconomic uncertainties might temper short-term investor sentiment, Bahrain's fundamental market strengths remain robust. Stable rents, a prevalence of high-value transactions, and ongoing investment in infrastructure and tourism are expected to underpin sustained long-term growth. The emergence of premium developments and an evolving regulatory framework are further enhancing Bahrain's appeal as a regional investment destination. Karim Yazji, chief executive of ASK Real Estate, expressed confidence in the sector's resilience. 'We are very confident that the real estate sector in Bahrain is capable of offering sustainable and stable investment returns despite the fluctuations of oil prices and the instability that may be experienced in other sectors that are directly linked to global markets,' he stated. Mr Yazji attributed this stability to Bahrain's 'long-term vision… to create a stable and vibrant economy.' The first quarter of 2025 presented a mixed picture for Bahrain's real estate. Total transaction value increased by 3.67 per cent to BD283.71 million, yet transaction volumes fell by 18.78pc compared to Q1 2024. This divergence indicates a continued market preference for high-value, premium properties across the kingdom. Rental rates and occupancy in the office and retail sectors held steady throughout Q1 2025, reflecting a balanced supply and demand dynamic. This sustained stability in rental rates, the report notes, signals market maturity, attracting investors seeking consistent returns amid broader economic shifts. Mr Yazji highlighted the importance of the kingdom's regulatory environment. 'The advanced regulatory framework of the real estate sector as well as transparency measures in Bahrain are among the most important components that support the growth and stability of the Bahraini economy in general,' he added. ASK Real Estate has recently secured a tier 'A' valuation licence from Real Estate Regulatory Authority (RERA). This permits the company to provide valuation and advisory services for all types of real estate properties, including mega projects. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Biz Bahrain
24-06-2025
- Business
- Biz Bahrain
ASK Report Confirms the Bahrain's Stability Despite Volatile Global Markets
A recent report by ASK Real Estate said that the real estate sector in Bahrain will maintain its stability despite the volatility of global markets, such as global tariff changes and fluctuating oil revenues. The recent report covering the first quarter of 2025 said that these macroeconomic uncertainties may temper short-term sentiment of investors towards the real estate market, but Bahrain's market fundamentals remain intact. Stabilized rents, high-value transactions, and continued infrastructure and tourism investments position the market for sustained long-term growth. It also added that the emergence of premium developments and a maturing regulatory framework continue to strengthen Bahrain's appeal as a regional investment destination. The report noted that the first quarter of 2025 revealed a mixed performance for Bahrain's real estate market, shaped by seasonal shifts, ongoing economic adjustments, and evolving investor sentiment. The total transaction value rose by 3.67% to BHD 283.71 million, while transaction volumes fell by 18.78% compared to Q1 2024, signaling a continued preference for high-value, premium properties across the Kingdom. It also mentioned that rental rates and occupancy in the office and retail sectors remained stable throughout Q1 2025, reflecting a balanced supply and demand dynamic. The sustained stability in rental rates signals market maturity, attracting investors seeking steady returns amidst broader economic shifts. This consistency in rental rates serves as a positive indicator for developers and investors considering long-term investment strategies. Mr. Karim Yazji, the CEO at ASK Real Estate said, 'We are very confident that the real estate sector in Bahrain is capable of offering sustainable and stable investment returns despite the fluctuations of oil prices and the instability that may be experienced in other sectors that are directly linked to global markets. This is the result of the long-term vision that Bahrain has been fostering to create a stable and vibrant economy.' He also added, 'The advanced regulatory framework of the real estate sector and as well as transparency measures in Bahrain are among the most important components that support the growth and stability of the Bahraini economy in general'. This report covering the first quarter of 2025, provides an overview of global and Gulf economies in general, and Bahrain economy in particular, with a focus on the performance of the real estate sector along with several other related economic sectors. ASK Real Estate is a Bahrain based company specialized in providing real estate services such as, real estate management, brokerage and leasing, advisory services, sale and purchase as well as valuation reports for secured lending, Stock market listing, financial reporting and auditing. It has obtained recently Tier 'A' valuation licence provided by Bahrain's Real Estate Regulatory Authority (RERA), which allows the company to provide valuation and advisory services to various types of real estate properties, including mega projects.
Zawya
07-04-2025
- Business
- Zawya
Bahrain's real estate sector ‘exhibits resilience in 2024'
Bahrain's real estate sector demonstrated resilience in 2024, navigating a slight contraction in transaction activity while maintaining overall stability, according to a new report by ASK Real Estate. The report highlights that transaction volumes in 2024 decreased by 4.82 per cent compared to the previous year, with 24,863 transactions recorded. However, the total transaction value experienced only a marginal reduction of 1.64pc, amounting to BD1.06 billion. This indicates a market trend leaning towards higher-value properties, suggesting continued interest in premium assets despite the dip in transaction numbers. Land, residential, commercial, and industrial property rates remained stable throughout 2024. This stability is seen as a positive sign, reassuring investors and developers of the market's steadiness. The hospitality sector continued its positive trend, with hotel occupancy rates rising from 52.88pc in 2023 to 54.85pc in 2024, a 1.97pc increase. The Average Daily Rate (ADR) also improved by 3.76pc, reaching BD63.80, and Revenue Per Available Room (RevPAR) increased significantly by 8.36pc, to BD37.07. These figures reflect Bahrain's growing attractiveness as a tourism destination. Karim Yazji, chief executive of ASK Real Estate, emphasised that the market's resilience reflects strong investor confidence. 'The real estate sector's consistency and reliability highlight the abundance of investment opportunities available. The government has played a pivotal role in driving sectoral growth by enhancing transparency and providing accessible, data-driven insights to stakeholders.' Mr Yazji added, 'The encouraging indicators outlined in the report reinforce the sector's contribution to national economic development, while strengthening Bahrain's position as a premier investment destination in the region. Between 2021 and 2024, we've seen exceptional growth grounded in sound fundamentals.' The report provides a broader economic context, noting that global economic growth remained moderate in 2024, around 3.2pc, and was hampered by factors like persistent inflation and tighter monetary policy in the first half of the year. In contrast, GCC economies demonstrated robust growth in 2024, driven by high oil prices and diversification efforts. Bahrain's economic highlights in 2024 include advancing to 21st globally in the IMD World Competitiveness Ranking, attracting $2.4 billion in investments through the Golden Licence initiative, and significant investments by the Abu Dhabi Fund for Development. The report delves into specific sectors, noting the stabilisation and adjustments in retail, office rentals, industrial spaces, and residential properties. Off-plan sales remain attractive, particularly to foreign and GCC national buyers. It also emphasises the growing importance of sustainability in the kingdom's real estate sector, outlining the benefits and opportunities for adopting green building practices. Looking ahead to 2025, the GCC economies, including Bahrain, are poised for continued growth, driven by diversification efforts and adjustments in oil production. avinash@
Trade Arabia
06-02-2025
- Business
- Trade Arabia
Mortgage financing for Bahrainis soars to $8bn in 2024
Bahrain's mortgage loans accounted for the largest share of total personal loans granted to the kingdom's citizens in 2024, surging to hit BD3.03 billion ($8 billion), thus posting a 5% growth when compared to BD2.88 billion ($7.6 billion) the previous year, according to ASK Real Estate. The real estate loans constituted 50.8% of total loans and financing extended during the year, which also included personal loans, vehicle loans, and other financing options, stated ASK in its report. On the solid growth, CEO Karim Yazji said: "The sustained growth in mortgage financing reaffirms the crucial role of commercial and Islamic banks in supporting and advancing the real estate sector. By providing diverse financing solutions and facilitating homeownership, banks are significantly contributing to economic expansion in Bahrain." Yazji further emphasized that this growth reflects the resilience and attractiveness of Bahrain's business environment, driven by the strong momentum of real estate projects in 2024, and noted that this surge in activity has heightened demand for personal financing solutions, making homeownership more accessible through tailored banking facilities. "Collaboration between real estate developers and local retail banks has played a pivotal role in stabilizing the housing sector, effectively mitigating the impact of interest rate fluctuations and global economic uncertainties," stated Yazji "These efforts have ensured the availability of housing solutions that meet the needs of Bahraini families despite economic challenges," he noted. Yazji underscored the importance of banks' participation in government-backed housing finance programmes, such as 'Tas'heel' and 'New Mazaya' which have significantly accelerated housing service delivery to citizens. These initiatives, he stated, combined with comprehensive banking facilities, have provided Bahraini families with a broader range of financing options tailored to their needs. According to Yazji, the surge in real estate demand was mainly due to Bahrain's favourable economic policies, alongside the Central Bank of Bahrain's regulatory framework and the financial incentives offered by local banks.
