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Offices in Bahrain: a rising trend towards serviced offices
Bahrain is an attractive location for investment, situated between two of the wealthiest states in the region: Saudi Arabia and Qatar, and in the environs of two international business giants: Dubai and Abu Dhabi.
Under a healthy economy supported by local authorities seeking to make Bahrain an international destination for investments, and with an upward growth movement, it seems perfectly normal that Bahrain is quickly becoming a preferred choice for regional and global entrepreneurs.
Many indicators show positive signs for business investments in Bahrain:
- Bahrain's GDP grew 2.4% in the first half of 2012 and is set to grow a further 2.9% for the same period in 2013.
- The office sector showed significant signs of recovery after a period of slow demand, and this increase in activity during 2012 is due to a combination of competitive rates, generous rent-free periods and many other incentives offered by the landlord
- Growing construction activity: there is an increasing activity in the construction and real estate sector. Property prices are very attractive, as well as financing conditions and legal environment
However, the slow demand on business offices, reported over the last few years, was mainly due to parking difficulties, traffic, and relatively high rental rates. But the last period revealed corrective actions which brought back signs of life to the demand in this sector, and which included principally many incentives for tenants, such as competitive rates, rent-free periods and fit-outs paid by the landlord. Traffic and parking problems are to be solved through achievable plans.
In light of the economic outlook for 2013, growth in Bahrain will still preserve its positive trend, despite the negative impact of the volatile political climate of the region. And the optimistic outlooks will certainly attract investors to seize opportunities on this promising market.
Therefore, entrepreneurs and investors are now interested in serviced offices, which provide a cost effective solution to their business.
In fact, Servcorp's offices in Bahrain offer access to fully equipped serviced offices, meeting rooms and premium boardrooms located in Manama's CBD area. These offices offer an international business environment, professional administration support, elegant fit-outs and the benchmark technologies allowing the tenants to enjoy high quality performance without the necessity to invest in real estate, or in technical and human capital. The Bahrain serviced offices offer the needed flexibility to adapt to the market's changes.
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