Nass Group, a leading industrial and commercial organisation in Bahrain, has announced the creation of a new joint venture with Body Corporate Services (BCS) of Australia.

This joint venture, BCS – Bahrain, will introduce strata management to the growing Bahraini real estate market.
Strata management is defined as the subdivision of real estate lots into “strata” allowing the full ownership and transfer of ownership of these subdivided units by the owners, but represented by the ‘owners’ corporation’.
This form of ownership is welcomed by both owners and investors because they are provided with the title deed to their unit, but are removed from the daily responsibilities of maintenance, insurance and legislation.
“The concept of strata is very easy to understand. If an owner buys a unit within a strata schemed building or development, whether it is a residential, commercial, retail, resort, apartment or a mixed use unit, that owner takes possession of his title deed, becoming a member of that property’s owners’ corporation. What BCS – Bahrain will provide, in effect, is the strata management element of this fiduciary relationship,” said Greg Hayood, chief executive officer (CEO) BCS.