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Bahrain’s retail sector remains resilient as residential and office markets soften

Bahrain’s retail sector remains resilient as residential and office markets soften

June 2016

While Bahrain’s residential and office markets continue to soften against the backdrop of an economic slowdown, the retail sector remains the standout performer with rents stable in all of Manama’s main markets during the first quarter of 2016, according to Cluttons.

 

Cluttons’ Bahrain Spring 2016 Property Market Outlook Report shows that retail at Al Seef continues to command the highest rents at BHD 12.50 per sqm, representing a 4% increase over the 12 months from Q1 2015. Following closely behind Al Seef is Amwaj Islands.

Harry Goodson-Wickes, Head of Cluttons Bahrain said: “We continue to see demand for retail across Bahrain with budgets remaining stable around the BHD 12 per sqm mark. However, if supply continues to edge ahead of demand, headline rents may fall. Rents will also be impacted by the general economic slowdown that the Kingdom is facing and it will likely cause increased downward pressure as demand stabilises this year.”

He added that the Kingdom’s retail sector is still perceived as being a key retail and hospitality hub for Saudi Arabia, with the weekend tourist traffic being a particularly big draw for domestic and international retailers.

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