Bahrain- July 00, 2018: Daih Real Estate Development Co. W.L.L. has announced that it had obtained a “Real Estate Developer License” from the Real Estate Regulatory Authority (‘RERA’); a regulatory body which now oversees the real estate sector for the Kingdom of Bahrain.
Daih has thus become one of the first real estate development companies to be awarded these licences, strengthening its mandate to boost investor confidence and help consolidate an efficient and sustainable real estate market in the Kingdom of Bahrain.
RERA was authorized to award this license to Daih Real Estate Development Company in recognition of the company’s commitment to fulfilling new standards set by the authority, commensurate with highest international standards. This is in addition to the company’s commitment to implementing all legislation and regulations related to real estate development; especially Law 27 of e 2017 concerning the Promulgation of the Real Estate Sector Regulation Law.
Mr Akram Miknas, Chairman of Daih Real Estate Development Co. W.L.L., stressed that achieving this license was proof of the fruitful cooperation between the company and the Real EstateRegulatory Authority. “We are committed to cooperating with RERA in achieving the common vision of both parties to further developing the real estate sector and promoting economic growth and investment in Bahrain;” said Mr Miknas
Mr Miknas added: “Bahrain’s efficient and sustainable real estate market is attracting investors from the region and the world, making Bahrain the preferred destination for real estate investments in an internationally competitive real estate market. Through the promotion of investment and boosting stakeholders’ confidence, the Bahrain real estate market is building a stronger, more transparent and more efficient real estate ecosystem in the Kingdom of Bahrain.”
Daih Real Estate Development Co. W.L.L. was formed on 2007 in the Kingdom of Bahrain as one of Promoseven Holding company. It is now working on “Diyar Al Khair” project, the largest privately-owned affordable residential complex of its kind in the Kingdom of Bahrain.