Thursday, Sep 24, 2020
International Finance
Real Estate

Human capital makes Bahrain top destination for proptech

Friendly business environment and digital infrastructure in Bahrain give the country an edge in the MENA region

Availability of quality human capital, solid digital infrastructure and the ease of doing business make Bahrain a top destination for proptech firms in the Middle Eastern and North African (MENA) region, according to a survey carried out by HexGn, a community of serial entrepreneurs, industry experts, professors, and emerging startups.

Bahrain provides several benefits to businesses especially proptech startups willing to set up operations in the country. The country is regarded as expat-friendly and the standard of living in the Kingdom is higher when compared to the other countries in the MENA region.

In Bahrain, foreigners are not restricted when it comes to ownership rights. 100 percent ownership makes Bahrain
one of the most attractive places for doing business for foreigners.

With regard to Bahrain being a top proptech destination, HexGn chief executive Jappreet Sethi told the media that, “The academia in the kingdom has been contributing significantly by setting up smart campuses in a bid to make their education system more advanced and to transform it into a source of inspiration for innovation.”

He added, “Local talent is being shaped to help Bahraini ecosystem increase its dependency on homegrown talent by offering courses in entrepreneurship, blockchain and much more. Additionally, agencies like Tamkeen are already giving impetus to entrepreneurial ventures in Bahrain through an array of schemes and services for easy-hiring of locals for various fields,”

According to Ali Murtaza, the Director of Real Estate and Tourism at Bahrain Economic Development Board, over the years Bahrain has proved to be a top destination for tech-driven industries. He believes the Bahraini ecosystem can help proptech firms grow at an unmatched rate, as it has no dearth of any of the startup-essential resources.

The HexGn survey also found out that currently, proptech solutions in sales and leasing, planning and design, and property management are the most sought after by the industry. The introduction of new building materials, AI, IoT sensors, and drones are considered to have the most impact on the real estate industry.

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