Following the approval from  Prime Minister, Prince Khalifa Al Khalifa, the Bahraini government agreed to allow foreigners a 100% ownership, which can help the property market, Gulf Business reported quoting a Cluttons report.

“Bahrain will stand a good chance to improve its rating on the index of Facility of Starting Business – an asset which will encourage leading international firms to establish in Bahrain – the gate to the GCC and the region,” the Bahraini Cabinet stated.

The full ownership will include residences, administrative services, health and social units, real estate, and manufacturing and technical activities, according to Middle East Construction News.

“For the property market, Bahrain already offers a competitive advantage to many other regional locations as residential and commercial rents and values are amongst the most attractive in the region,” Head of Research at Cluttons, Faisal Durrani said, adding that it will help support long-term activity.