Essam bin Abdulla Khalaf, Chairman of the Board of Directors of the Real Estate Regulatory Authority (RERA), said the authority continues to enhance the regulatory environment of Bahrain’s real estate sector by strengthening market efficiency, transparency and sustainability in line with Bahrain’s Economic Vision 2030.
He said RERA has introduced a framework allowing future real estate projects to manage shared areas without forming a homeowners’ association. The measure provides clear legal and administrative requirements for the operation and maintenance of shared facilities, offering developers and owners more flexible management options while safeguarding asset value and protecting the rights of all parties.
Khalaf also announced that RERA has adopted a new regulatory framework on anti-money laundering and counter-terrorism financing for real estate brokerage activities. The framework includes risk-based assessment, identification of public figures and beneficial owners, due-diligence procedures, record-keeping, internal controls and reporting of suspicious transactions, while ensuring confidentiality and professional protection for licensed entities complying with their obligations.
He said these steps aim to reinforce a secure and sustainable investment environment, improve professional practices and strengthen confidence in the real estate market, supporting Bahrain’s position as an attractive destination for real estate investment.
Further details are available on RERA’s website: www.rera.gov.bh.