Real estate, amongst key market sectors, can be described as the backbone to an economy, whereby it comprises of the infrastructure where all other sectors can operate. Therefore, in the design of a national vision, real estate becomes the base for progress and economic development. This research paper investigates the contribution of the real estate market towards meeting the three main principles of the 2030 economic vision set by the Kingdom of Bahrain.
To start, an overview of Bahrain’s current market conditions is provided, as per collected secondary data, with a particular focus on real estate activities. Following the market overview is a detailed study of the concepts of sustainability, fairness, and competitiveness, as they form the base principles of the Bahrain economic vision. The study included the pertaining theories for each concept, followed by an application of how they would manifest in the real estate context. Finally, a comparison is devised between the actualisation of such principles in mature markets versus Bahrain, with a highlight of gaps and overlapping practices, where applicable.
To follow, primary data gathered through interviews with prominent real estate practitioners in Bahrain, shows the perceptions on real estate trends and the implementation of the vision principles, confirming a notable gap between current and potential market conditions. Reasons for these gaps have been explored within the interviews and as based on literature reviews, addressing both the limitations and opportunities for the prosperity of the real estate sector.
Finally, the concluding chapter suggests real estate practices which could bridge such gaps, towards achieving market fairness, sustainability, and competitiveness. The objective here is to further enable the role of the real estate sector as a major contributor to national wealth and meeting the ambitions of the 2030 Economic Vision, which aim to diversify the economy away from oil dependency, enhancing productivity, and improving living standards.
Inhaltsverzeichnis (Table of Contents)
- CHAPTER 1: INTRODUCTION
- 1.1 BACKGROUND
- 1.2 BAHRAIN'S 2030 ECONOMIC VISION
- 1.3 ROLE OF REAL ESTATE IN MEETING THE VISION
- 1.4 RESEARCH SHAPE, SCOPE & STRUCTURE
- 1.4.1 Parameters of the Report
- 1.4.2 Aims
- 1.4.3 Objectives
- 1.4.4 Research Questions
- 1.4.5 Division of Report, following this chapter
- CHAPTER 2: LITERATURE REVIEW
- 2.1 AN OVERVIEW ON THE REAL ESTATE MARKET IN BAHRAIN
- 2.1.1 Contributing & Limiting Factors, and the Role of Government
- 2.1.2 The Real Estate Market: An Overview of the Sectors
- 2.2 REVIEW ON PRINCIPLE ONE: SUSTAINABILITY
- 2.2.1 Definition of Sustainability
- 2.2.2 Theories of Sustainability
- 2.2.3 Sustainability in the Real Estate Context
- 2.2.4 Considerations of Sustainability Factors in Mature Real Estate Markets vs. Bahrain
- 2.3 REVIEW ON PRINCIPLE TWO: FAIRNESS
- 2.3.1 Definition of Fairness
- 2.3.2 Theories of Fairness
- 2.3.3 Fairness in the Real Estate Context
- 2.3.4 Fairness in Mature Markets vs. the Bahraini Market
- 2.4 OVERVIEW ON PRINCIPLE THREE: COMPETITIVENESS
- 2.4.1 Definition of Competitiveness
- 2.4.2 Theories of Competitiveness
- 2.4.3 The Advantages of Having a Competitive Market
- 2.4.4 Factors Affecting Real Estate Competitive Attractiveness for FDI
- 2.4.5 Competitiveness in the Real Estate Context
- 2.4.6. Competition in Mature Real Estate Markets vs. Bahrain
- CHAPTER 3: METHODOLOGY
- 3.1 INTRODUCTION TO RESEARCH DESIGN
- 3.2 RESEARCH PHILOSOPHY
- 3.3 RESEARCH STRATEGY
- 3.4 ADVANTAGES AND DISADVANTAGES OF CHOSEN RESEARCH METHOD
- 3.4.1. Advantages
- 3.4.2. Disadvantages
- 3.6 THE INTERVIEW PROCESS
- 3.6.1 Format of Interviews
- 3.6.2. Interview Sampling Strategy
- 3.7 RATIONALE FOR INTERVIEW PARTICIPANTS
- 3.7.1 Conducted Interviews
- CHAPTER 4: FINDINGS & DISCUSSION
- 4.1 INTRODUCTION
- 4.2 GENERAL INTERPRATATIONS ON THE REAL ESTATE MARKET IN
- 4.3 UNDERSTANDING/ADAPTING THE VISION
- 4.3.1 General Awareness
- 4.3.2 The Suitability, Importance & Contribution of the Vision
- 4.3.3 A Common Interpretation: The Need for a Plan
- 4.4 ADAPTING TO PRINCIPLES WITHIN THE VISION
- 4.4.1 Rating the Principles
- 4.4.2 Perceptions on Sustainability in the Bahraini Real Estate Context
- 4.4.3 Perceptions of Fairness in the Bahraini Real Estate Context
- 4.4.4 Perceptions of Competitiveness in the Bahraini Real Estate Context
- 4.4.5 General Sense/Ideology
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research paper aims to investigate the contribution of the real estate market towards meeting the three main principles of the 2030 economic vision set by the Kingdom of Bahrain. The paper explores the concepts of sustainability, fairness, and competitiveness as they relate to the real estate sector in Bahrain. It analyzes the current state of the real estate market, assesses the implementation of the vision principles, and identifies potential gaps and opportunities for improvement.- The role of the real estate market in achieving Bahrain's 2030 economic vision
- The application of sustainability, fairness, and competitiveness principles in the real estate context
- Gaps and opportunities for the prosperity of the real estate sector in Bahrain
- Recommendations for bridging gaps and achieving market fairness, sustainability, and competitiveness
- The potential of the real estate sector to contribute to national wealth and economic diversification
Zusammenfassung der Kapitel (Chapter Summaries)
- Chapter 1: Introduction provides background information on the real estate market in Bahrain and introduces the 2030 economic vision. It outlines the research scope, aims, objectives, and research questions.
- Chapter 2: Literature Review presents an overview of the real estate market in Bahrain, focusing on contributing and limiting factors. It delves into the concepts of sustainability, fairness, and competitiveness, exploring their definitions, theories, and application in the real estate context. The chapter also compares the actualisation of these principles in mature markets versus Bahrain, highlighting gaps and overlapping practices.
- Chapter 3: Methodology describes the research design, philosophy, and strategy employed in the study. It outlines the advantages and disadvantages of the chosen research method, which includes interviews with real estate practitioners in Bahrain. The chapter details the interview process, sampling strategy, and rationale for participant selection.
- Chapter 4: Findings & Discussion presents the findings from interviews with real estate practitioners in Bahrain. The chapter explores their perceptions on real estate trends, the implementation of the vision principles, and the potential gaps and opportunities for improvement. It discusses the reasons behind these gaps and explores the limitations and opportunities for the prosperity of the real estate sector.
Schlüsselwörter (Keywords)
The research paper focuses on the real estate market in Bahrain, specifically its role in achieving the country's 2030 economic vision. The main themes explored are sustainability, fairness, and competitiveness, with particular emphasis on their application in the real estate context. The study also investigates the gaps and opportunities for improvement in the Bahraini real estate sector. Key terms include Bahrain, Vision 2030, Real Estate, Sustainability, Fairness, and Competitiveness.- Quote paper
- Abdulla Al Raees (Author), 2015, Sustainability, Fairness and Competitiveness. The Real Estate Market and the 2030 Economic Vision of Bahrain, Munich, GRIN Verlag, https://www.grin.com/document/343202