The construction sector in Bahrain is poised for significant growth, with investments expected to reach $3.04 billion by the end of 2024, according to a recent report highlighted by our sister newspaper Al Ayam. This growth is driven by investments in infrastructure, renewable energy, and oil and gas projects, all in line with Bahrain’s Economic Vision 2030. While there was a slight decline in investment in 2023, 2022 saw a more robust growth driven by infrastructure projects and real estate sector expansion.
The “Market Research Future” report on Bahrain’s construction sector underscores the increasing construction activity in various sectors such as commercial, residential, industrial, and infrastructure. This surge in demand is leading to a greater need for services, materials, and skilled labor in the sector. The report also points to the importance of technological innovation and sustainable practices in boosting the construction sector in Bahrain. Market players are focusing on resource optimization, project efficiency, and minimizing environmental impact.
Bahrain’s construction sector is expected to maintain its strong position in the market, with an ongoing demand for housing driving growth. The country has already launched several major projects in the sector in 2024, including the Bahrain Metro project aimed at improving public transportation. Other significant projects include the Salman Industrial City, which aims to boost the industrial sector and provide a favorable environment for investors, as well as the expansion of the Salmaniya Medical Complex, focusing on enhancing healthcare facilities and increasing capacity.
The report also highlights the government’s efforts to promote affordable housing and urban development, which is attracting both domestic and international investors to the construction sector in Bahrain. This focus on affordable housing and urban development is expected to further drive growth in the sector. Additionally, the report stresses the importance of sustainable practices and technological innovation in ensuring the long-term success and sustainability of the construction sector in Bahrain.
In conclusion, the construction sector in Bahrain is on track for significant growth, with investments expected to reach $3.04 billion by the end of 2024. The sector is experiencing increased activity across various segments, driving market expansion and creating opportunities for both domestic and international investors. With a focus on sustainable practices, technological innovation, and government support for affordable housing and urban development, the construction sector in Bahrain is well-positioned for continued growth and success in the coming years.
