Riyadh: Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, actively participated in the fifth edition of the Real Estate Future Forum held in Riyadh. The forum took place from January 26 to 28 and was organized at the invitation of Majed bin Abdullah Al Hogail, the Minister of Municipalities and Housing of the Kingdom of Saudi Arabia.
According to Bahrain News Agency, the event convened ministers, senior officials, experts, and decision-makers from Saudi Arabia and the wider region to discuss the future trajectories of the real estate sector in terms of investment and development. Minister Al Rumaihi was part of a high-level panel titled "Market Trends and Real Estate Investment Opportunities," where she shared insights with Sherif Magdy El Sherbiny, Minister of Housing, Utilities and Urban Communities of Egypt, and Dhafer Al Omar, Deputy Minister of Local Administration and Environment of Syria.
In her address, Minister Al Rumaihi emphasized the strategic significance of the housing and real estate sectors in advancing economic diversification and ensuring social stability, aligning with Bahrain Economic Vision 2030 and the Government Programme 2023-2026. She pointed out the crucial role of social housing in Bahrain's development agenda, highlighting the sector's robust performance due to increased private sector involvement, positively impacting industries like construction and retail.
Minister Al Rumaihi discussed the Royal directive to deliver 50,000 housing units, noting it has catalyzed a shift in housing policy by fostering private sector partnerships. These initiatives encompass broadening housing finance options with banks and collaborating with developers to diversify housing supply through government and private land development programs.
She also highlighted that the housing and real estate sector has added over BD 1.9 billion to the national economy recently, driven by a pipeline of projects and partnerships initiated since 2022. Furthermore, she outlined government strategies to stimulate the real estate market, attract foreign investment, and promote ownership through legislative and policy incentives.
The minister underscored plans to develop strategic cities under Bahrain's master plan, projecting a 60% expansion in urban development areas, creating opportunities for private investment. She reiterated Bahrain's dedication to aligning with global trends in sustainability, digital transformation, and smart cities, citing initiatives like flexible financing, digital platforms, and off-plan sales programs as part of a transparent legislative framework, ensuring Bahrain remains an attractive investment destination while balancing economic and social goals.