A draft law permitting non-Bahrainis to own land and property has been presented to the Shura Council for discussion, the Gulf News Agency reported yesterday.
A draft law permitting non-Bahrainis to own land and property has been presented to the Shura Council for discussion, the Gulf News Agency reported yesterday.
Justice and Islamic Affairs Minister Sheikh Abdullah bin Khalid Al Khalifa and Information and Cabinet Affairs Minister Mohammed Al Mutawa jointly presented to draft to the 40-member council on Tuesday saying it was aimed at attracting foreign investment to boost industrial, trade and tourism sectors.
The draft was met with opposition from members who believe approval of the law will add further burdens to the tiny islands especially in view of the increase in population.
"Most countries all over the world allow non-nationals to own property," Sheikh Abdullah was quoted as telling the Shura Council members.
He also sought to calm the fears expressed by some members.
"Foreigners will be allowed to own properties only in specific areas allotted for this purpose to protect the interest of the nationals," Sheikh Abdullah said.
"But with regard to Gulf nationals the island has an open-door policy to encourage them to own property and invest on the real estate sector in Bahrain," he said.
On his part, Al Mutawa said: "The draft law is in keeping with the open economic policy adopted by the government to lure foreign investors and encourage the development of construction sectors."
One of the members, Khalifa Al Dhahrani, argued that "Bahrain's population is increasing fast and it is our duty to envisage how the island would be in 30 to 35 years when the population is likely to reach 1.5 million from its almost 600,000 which also include expatriates."
Mohammed Saleh Al Sheikh Abdallah called for caution in dealing with the proposed law because "although free economy is the backbone of any country... this is one of the most important drafts as it deals with the rights of the future generation." "It needs through examination," he added.
The draft was forwarded to a specialised committee for fine tuning before it returns to the council for another round of deliberations. UAE citizens can own land and property in Bahrain.