Bahrain to increase rent at industrial site by 6000%

Officials said levels were previously too low and move will impact 51 firms

Bahraini officials are to increase rents in an industrial area on the island state by as much as 6000 percent, in a bid to stem accumulated losses due to rates previously being too low.

Bahrain’s Municipalities and Agriculture Affairs Ministry is planning the rate hike at the industrial area in Hidd, the Akhbar Al Khaleej newspaper said.

The ministry previously received nominal rent for space from contractors at the site and said it was not enough to cover ongoing losses, officials said.

The new rental levels will come into effect when current leases expire and will help raise revenues for the area to BD2m ($5.28m) a year, up from previous levels of around BD25,000, the ministry said. A total of 51 contractors at the site will be impacted by the decision.

The move comes at a time when the kingdom is battling anti-government unrest and is eager to maintain its reputation as one of the Gulf’s leading trade and business hubs.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Abu Dhabi real estate: Down, but not out

Abu Dhabi real estate: Down, but not out

While there has been evidence of rents in the richest emirate...

Forgotten fees: the challenge of investing in Dubai property

Forgotten fees: the challenge of investing in Dubai property

Investors attracted to low service charges at some Dubai residential...

3
Dubai real estate: which way will it go?

Dubai real estate: which way will it go?

In this special report, Arabian Business analyses the state of...

3
Most Discussed
sponsoredTracking