Diyar Al Muharraq, one of the leading urban developers in the Kingdom of Bahrain, hosted an official delegation from the Real Estate Regulatory Authority (RERA), headed by its Chief Executive Officer, His Excellency Shaikh Mohammed bin Khalifa Al Khalifa, as well as representatives from the Media on a Site Visit on Tuesday, the 10th of April 2018.
The delegation was received at the Diyar Al Muharraq Sales Office by Dr. Maher Al Shaer, the Chief Executive Officer of Diyar Al Muharraq, along with other officials from the Company’s Executive Management, its Sales team and Corporate Communication Department, from where they were then accompanied to Marassi Al Bahrain. This marked the Real Estate Regulatory Authority’s first visit since Diyar Al Muharraq was awarded the organization’s first certified Developer License Certificate in March 2018.
Speaking on the occasion, His Excellency Shaikh Mohammed Bin Khalifa Al Khalifa commended Diyar Al Muharraq’s immediate compliance with Law No (27) of 2017 of the Real Estate Regulatory Law, resulting in both the developer becoming the first company to be certified by the Authority as well as making Deerat Al Oyoun its first certified project.
His Excellency elaborated on the outstanding efforts that are exerted by the Authority to fulfill the responsibilities of the role entrusted to it, which entails it to primarily regulate the real estate sector and support it with clear procedures, in order to maintain the prominent function of the real estate sector as one of the most important non-oil economic sectors to the Bahraini economy.
Shaikh Mohammed Bin Khalifa Al Khalifa also clarified that the Real Estate Regulatory Authority is wholly committed to providing necessary support to real estate companies and projects, while urging all real estate agents, developers, brokerage firms and property managers to register their companies, offices and projects with RERA, so as not to be subject to accountability and legal prosecution under the provisions of the articles of the Real Estate Regulatory Law. Additionally, he emphasized on the Authority’s absolute keenness to provide the best assistance to all concerned parties through its website or by personally going to one of its offices.
His Excellency added that the development of projects such as Diyar Al Muharraq leads to the establishment of a modern lifestyle for the citizens and residents of the Kingdom of Bahrain, in addition to creating an attractive environment for investors and foreign companies, which in return would substantially improve our national economy.
From his side, the Chief Executive Officer of Diyar Al Muharraq, Dr. Maher Al Shaer said: “On behalf of Diyar Al Muharraq, I would like to take this opportunity to personally welcome His Excellency Shaikh Mohammed bin Khalifa Al Khalifa, along with the other officials from the RERA. Reflecting Diyar Al Muharraq’s steadfast adherence to the statutes and directives of the RERA, designated to represent the Kingdom of Bahrain’s interests in the local Real Estate and Property Development industry, we take great pride in our exemplary achievement of becoming the first real estate company to receive a license as a real estate developer by the Authority.”
“The License certifies our qualifications and highlights the immaculate standards we have imprinted in every aspect of our development, thus consolidating our position as the leading real estate developer in the Kingdom of Bahrain. Therefore, as always, it also brings us immense pleasure to receive our dear friends from the Media as well to share with us in this auspicious occasion and, through our Tour, to witness the high quality of the work that is being comprehensively carried out within our master-planned development. We look forward to continuing in the same vein of excellence that we have exhibited in our business model and operational practices and policies thus far, and closely maintain compliance with the guidelines set by the RERA in order to purposefully, positively and substantially impact the Real Estate sector in the Kingdom of Bahrain for a long time to come, just as our visionary development was envisioned to do,” he added.
Diyar Al Muharraq also received the ‘Market Research Advertising License’ certificates for two of its projects, Al Bareh, in its first phase, and Al Naseem. This license allows developers to find sufficient number of buyers and investors in a specific project, and thus preserving their rights.
Diyar Al Muharraq is a unique master planned city for the people of Bahrain offering a range of housing options and quality lifestyle. Diyar Al Muharraq offers a cohesive mix of residential and commercial properties with a strong lineup of projects aimed at creating a long term and sophisticated township.