Bahrain’s real estate market continued to thrive in the first half of 2024, registering a 6.2 per cent increase in the total value of transactions, amounting to BD576.35 million. Despite a slight 0.5 per cent drop in the number of transactions (11,559), the market showed resilience, driven by strong demand and strategic developments, according to CBRE’s Bahrain Real Estate Market Review H1 2024.

The demand for property purchases spanning apartments, houses, lands, and buildings has surged in all four governorates, with the capital leading in property sales during the first quarter of 2024, according to the Survey and Land Registration Bureau.

Prime real estate hotspots such as Manama, Diyar Al Muharraq, Amwaj Islands, and the southwestern coast near Bahrain International Circuit are experiencing steady development with several notable projects under way.

In the capital, the iconic BD200-million ($527 million) Bahrain Marina Development off King Faisal Highway is shaping up as a luxurious mixed-use destination. With over 25 per cent of Phase One complete, this waterfront marvel promises high-end residences, a yacht marina, five-star hotels, retail spaces, and pristine beaches.

Bilaj Al Jazayer, a 3.5-km beachfront development in Bahrain’s southwest.

Also in the capital, and located adjacent to the Bahrain World Trade Centre and Moda Mall, the newly renovated Sheraton Bahrain Hotel was opened last month. The hotel boasts 210 modern guest rooms and suites, including 141 Signature Rooms, 41 Club Rooms with exclusive access to Sheraton Club Lounge, 25 Suites (Junior and Executive), and three premium Diplomatic and Presidential Suites.

Nearby, the expansion of The Avenues-Bahrain, the kingdom’s largest seafront entertainment complex, is nearing completion (see Page 16). Adding 41,200 sq m of leasable space, the project will host 237 outlets, entertainment zones, and an ice rink, further solidifying its status as a leisure hub, bringing the total leasable area of the Avenues-Bahrain to 80,000 sq m.

The first Waldorf Astoria property in Bahrain will also be part of the Phase Two expansion of The Avenues-Bahrain, following the signing of a partnership deal between Global hospitality group Hilton and Al Sorouh Hospitality Development Real Estate. Waldorf Astoria Bahrain Bay will feature 120 elegantly designed rooms and apartments and is slated to open in 2028.

Onyx Bahrain Bay, the first in the Onyx series of projects, was handed over last year.

Opposite this landmark development, a number of luxury towering projects are taking shape at Bahrain Bay including Onyx Skyview, which boasts 435 luxury apartments distributed over 53 floors, in addition to 40 offices spread over 10 floors. Kooheji Development, a leading real estate company in Bahrain, together with its key unit, Kooheji Contractors, broke ground in February on the new luxury development which is now rising above the ground.

This followed on the heels of the handover of residential units at its Onyx Bahrain Bay project, the first in the Onyx series of projects. The Onyx Bahrain Bay project comprises two interconnected towers, the hotel-serviced apartment building – the Onyx Arjaan by Rotana – of which opened in July.

Kooheji Development has now officially launched its third-generation Onyx series venture – Onyx Water Garden, strategically positioned in Water Garden City near Reef Island. Targeted for completion in December 2028, the 44-storey tower will offer 503 residential units with a host of amenities.

Another prominent addition to Bahrain Bay’s skyline is Golden Gate, which will be one of the tallest residential towers in Bahrain. It boasts 746 luxury apartments across its 49- and 58-storey towers. The project is heading for completion with 80 per cent of the construction work completed, according to a key official of its developer Grnata Real Estate.

Nearby, the opulent BD30-million-plus Waterbay Residence by Roberto Cavalli, offering 264 designer-furnished apartments, including exclusive sky villas in a 10-storey complex. is now due for completion, according to its developer Bin Faqeeh Real Estate Investment Company.

Also in the capital, Infracorp, a leading investor in the infrastructure and sustainability development sector, recently launched work on its $200-million Marina Bay, a premium development located on Reef Island which boasts an array of villas, duplexes and penthouses. 

Infracorp has also teamed up with GFH, a regional financial group with key interests in asset management and real estate, to bring the Kempinski hospitality brand to the iconic Bahrain Harbour in downtown Bahrain. The Kempinski Harbour Heights hotel and exclusive branded residences will boast Sky Villas, marking the first Kempinski-branded villas with direct sea views, and 260 luxury apartments and hotel rooms, stated the developer.

Meanwhile at Diyar Al Muharraq, Bahrain’s largest integrated city covering a total area of 12 sq km, the master developer has recently marked the completion of Phase Two of Al Naseem waterfront villas.

Marassi Al Bahrain ... being developed by Eagle Hills Diyar.

A prime district within the city is Marassi Al Bahrain which is being developed by Eagle Hills Diyar. The vibrant district marked the opening of the much-awaited Marassi Galleria early last year.

The 114,000-sq-m beachfront retail and entertainment complex with 415 retailers hosts the kingdom’s largest indoor aquarium and underwater zoo, an adventure park, and a premium cinema complex. Marassi Galleria is also connected to two five-star hotels – the Address Beach Resort and the Vida Beach Resort – in addition to luxury serviced apartments.

Eagle Hills Diyar is currently spearheading the development of a number of residential projects such as Marassi Terraces, comprising two 10-storey interconnected towers, and the recently launched Palace Residences Marassi Al Bahrain, which will offer apartments that will be managed by Emaar Hospitality Group.

In March 2024, Eagle Hills Diyar had handed over all 249 units to the owners of yet another development – Marassi Park – which was completed ahead of schedule.

Meanwhile, the company’s parent firm Eagle Hills International, an Abu Dhabi-based private real estate investment and development company, is setting up Binaa Al Bahrain, a real estate development company in Bahrain, with local partnerships.  Some of the key projects Binaa Al Bahrain will invest in include Southern City and Al Furdah projects, the next phase of Marassi Al Bahrain and further developments in Diyar Al Muharraq.

Another manmade island in Bahrain that has attracted sizeable investor interest is Amwaj Islands, which is set to see the development of a number of hospitality projects. Among the latest announcements, Esterad Amwaj Company, the developer and owner of the iconic Amwaj Beachfront project, has joined hands with hospitality company Sunset Hospitality Group (SHG) for the launch of the METT Hotel & Residences, Isola Beach, and Raise Fitness at Amwaj. 

Bahrain’s southwest is being transformed into a tourist haven with Bilaj Al Jazayer, a 3.5-km beachfront development masterplanned by Foster + Partners. Located 28 km from the Bahrain International Racing Circuit, the site will host resorts, residential villas, and the region’s first surf park, powered by cutting-edge wave technology, set to open in 2026.

Being developed by Edamah, the walkable mixed-use development will create a dynamic new destination covering 1.3 million sq m of land.

The first two hotels of the development – the five-star Tivoli Hotel and four-star Avani Hotel, which will be managed by Minor Hotels – are currently under construction. Both the properties, with a total of 200 keys, are due for completion in Q2 2026.  The surf park - the region’s first Wavegarden Cove Surf Park - is also under construction and is poised to become a major tourism attraction on its completion in Q1 2026.  

A new sports city is also being built near the Bahrain International Circuit.

Another high-end destination for living, tourism, hospitality, and entertainment is the Al Areen Master Development project which will spread over a 2-million-sq-m area and accommodate 25,000 residents.

The master development will include Al Areen Park Hotel and The Land of Paradise Waterpark project which has already attracted investors such as Investrade, a leading boutique investment and asset management firm, and Naseej, a leading real estate developer in Bahrain. The project includes a luxury hotel belonging to Al Areen Hospitality, in addition to villas and apartments, as well as a golf course designed by Olazaban Design (see Regional News, Page 48).

A landmark project of a different genre on the anvil is the Digital City, being spearheaded by telecom and technology group Beyon. Spanning 380,000 sq m in Hamala, the project will host cutting-edge facilities, including R&D centre, healthcare, retail, and a vibrant mixed-use environment.

The mega project, construction of which is expected to begin in 2025, is being developed in partnership with Edamah.