Latest news with #CapitalTrusteesBoard
Zawya
5 hours ago
- Business
- Zawya
Bahrain: New initiatives to woo mega projects
Bahrain - The long wished for dream of a Disney or Universal Studios-style mega tourism magnet in Bahrain may have taken a step towards reality with new plans unveiled to attract global players to the kingdom. Bahrain's Capital Trustees Board has endorsed strategic municipal investment proposals to advance Vision 2030 goals in a bid to attract massive projects. Capital Trustees Board votes for key strategic investment projects during its meeting In a significant move that could reshape Bahrain's development, the board unanimously approved two ambitious proposals aimed at enhancing community partnership and stimulating private sector-led municipal development. The proposals presented by the board's financial, administrative and legislative committee chairman Dr Abdulhassan Hassan Al Dairy – include the establishment of a portfolio for municipal projects and the organisation of an annual municipal investment forum. Both were approved during the board's final meeting of the current term, held under the chairmanship of Saleh Tarradah. Council members hailed the dual initiatives as essential tools to diversify income sources, optimise land use, improve municipal services and align with Bahrain's Economic Vision 2030, which calls for sustainable development led by the private sector in a competitive and equitable environment. 'The aim is to create a dynamic mechanism for upgrading municipal services through innovation, technology and effective community engagement,' said Dr Al Dairy. 'This portfolio will not only help raise the quality of services but also enhance financial sustainability by reducing reliance on public budgets and attracting private investment.' The municipal portfolio proposal seeks to create a unified and transparent system for prioritising, funding and implementing municipal projects with broad participation from the private sector, civil society and government agencies. Dr Al Dairy outlined four core objectives: Improving municipal services by adopting smart solutions and enhancing service delivery. Enhancing community partnership by fostering participatory planning and communication between residents, civil society and the private sector. Boosting financial sustainability through diversified income, efficient spending and optimal asset utilisation. Developing municipal projects by maintaining and beautifying public spaces, expanding green areas and launching educational and recreational initiatives. 'This is a pivotal step in decentralising development and involving the community in shaping their environment,' added Dr Al Dairy. 'We want our citizens not just as recipients of services, but as partners in planning and execution.' Dr Al Dairy pointed to the successful transformation of a narrow alley into an educational walkway in co-operation with the Bahrain Trust Foundation and the Southern Municipality as a model of effective collaboration. 'We have seen results when partnerships are well-structured,' he said. 'From Aljazair Beach, to the Galali Walkway, Marassi Bahrain and Tubli Bay Park – these projects are proof that when the private sector is empowered, urban development flourishes.' The second proposal approved during the session witnesses the organisation of an annual Municipal Investment Forum – a strategic platform aimed at showcasing investment opportunities in municipal lands and fostering public-private partnerships. 'This forum is not just a one-off event – it's a national economic opportunity,' explained Mr Tarradah. 'It will empower the private sector to take the lead in municipal development and promote sustainability through smart, targeted investments.' The forum will be organised in partnership with major Bahraini companies and financial institutions, including Bapco, Alba, Gulf Air, National Bank of Bahrain, Al Salam Bank, Ithmaar Bank and Bank of Bahrain and Kuwait. 'We are not talking about small-scale local projects,' said Mr Tarradah. 'Through these forums, we are setting the foundation for attracting massive investments – even international ones like Disneyland or Universal Studios. 'Bahrain is open for business and ready to welcome global players to participate in our urban development.' The proposals outline a clear working mechanism for managing projects under both the portfolio and the forum. It includes: Formation of a supervisory committee made up of stakeholders from the public and private sectors. Identification of priority projects based on the needs of residential and commercial areas. Funding allocation from partnering banks and companies. Project implementation in co-operation with relevant authorities. Monitoring and evaluation to ensure long-term impact and accountability. The board's vice-chairwoman Khulood Al Qattan welcomed the approval and called for swift action to bring both initiatives to life. 'We have municipal lands and facilities that have been underutilised for years. It is time to put them to work for the benefit of our communities and to create real economic returns.' Ms Al Qattan emphasised that the investment forum, in particular, could help bridge the gap between government-led planning and market-driven solutions. 'We are seeing a new chapter in municipal work,' she said. 'Gone are the days when municipalities had to wait for central government funding. Now we can lead initiatives, attract investment and deliver tangible improvements with efficiency and creativity.' The annual forum is aligned with four primary national objectives: Enhancing economic sustainability by leveraging unused municipal assets. Stimulating public-private partnerships to accelerate development and encourage innovation. Empowering the private sector to lead projects, generate employment and bring in technological know-how. Ensuring balanced distribution of projects across regions to promote equity and reduce disparities. The forum will also cover critical topics such as: Investment opportunities in municipal lands and properties Public-private cooperation frameworks Innovative financing methods Review of successful local and regional investment models Legal and legislative frameworks governing municipal partnerships 'These moves are consistent with Bahrain's Economic Vision 2030 and the guidance of the wise leadership,' said Ms Al Qattan. 'We are building a future where municipalities are drivers of development and investment, not just service providers. 'With these proposals now formally endorsed, attention turns to the swift formation of the supervisory committees and initiation of preparatory work for the first Municipal Investment Forum, expected to be held in the coming months signalling a nationwide shift toward smart, sustainable and community-driven municipal governance.'
Daily Tribune
4 days ago
- Business
- Daily Tribune
Annual forum to attract investment in public land
An annual forum to drum up investment in idle municipal land and properties has been given the nod by the Capital Trustees Board. Board members backed Dr Abdulhassan Hassan Al Dairi's proposal unanimously yesterday, paving the way for private money to flow into untapped public plots. The event is expected to nudge businesses to take on new projects and boost council coffers, while spreading the benefits evenly across different districts. The forum, which is hoped to become a fixture in Bahrain's calendar, is part of a wider drive towards Vision 2030. The government wants businesses to step forward and run more projects, pushing economic diversity in a fair and competitive setting. Opportunities Those attending the event will be shown clear-cut opportunities, complete with maps, figures, and suggested uses for properties currently left idle. Financing will also be on the table, with banks, insurers, and investors expected to take part in discussions on funding tools and risk cover. Dr Al Dairi believes giving private firms clearer paths to take the lead in municipal projects will pay off through more jobs, technology-sharing, and improved outcomes. Projects A fair spread of projects around different regions will also be on the agenda, aiming to even out social and economic gaps. Stories from successful ventures will feature during the discussions, offering practical examples and helping businesses grasp what's possible.
Zawya
13-06-2025
- Business
- Zawya
Plan to ban SMEs in areas with poor parking rejected in Bahrain
A proposed decision to ban small and medium enterprises (SMEs) from opening businesses in areas with inadequate parking facilities has been formally rejected by the Capital Trustees Board. The debate was sparked as the board convened to discuss the approval of a new eye clinic complex in Tubli, despite existing concerns over a lack of spaces for customers in the area. While some officials raised the alarm over potential traffic congestion, the majority consensus favoured encouraging business growth. Board chairman Saleh Tarradah strongly opposed the suggestion to restrict SMEs, describing the move as counterproductive to Bahrain's broader economic development goals. From left, Mr Tarradah, Mr Al Sehli and board member Mohammed Al Abbas 'Allowing such enterprises to open is beneficial to the economic wheel of the country,' said Mr Tarradah during yesterday's meeting at the Capital Trustees Authority Complex in Manama. 'We shouldn't put hurdles or restrictions on small and medium businesses just because we want to solve the parking problem.' He explained that parking issues should not be viewed as a problem solely for new businesses to solve. Instead, he called for a national approach to infrastructure development. 'Parking is an issue that needs to be resolved on a national basis through creative and innovative solutions – not banning enterprises,' he added. Turning to the specific case of the Tubli eye clinic, Mr Tarradah dismissed concerns over inadequate parking, highlighting the unique nature of the establishment's clientele. 'Many of those with eye infections or problems don't drive and are dropped by family members,' he said. 'Also, nurses and doctors are either dropped by family or through transportation offered by the establishment.' Supporting his chairman's stance, board member Maitham Al Hayki criticised the proposed ban as short-sighted and damaging to Bahrain's entrepreneurial ecosystem. 'Ninety per cent of businesses in the bustling Seef District don't have car parks,' said Mr Al Hayki. 'So to resolve the parking matter we decide to stop small and medium businesses from opening? This is wrong and would just set us backwards.' He stressed that SMEs were vital for job creation and innovation, particularly in key urban areas where commercial spaces can be limited but economic opportunities remain abundant. Capital Trustees Authority director-general Mohammed Al Sehli argued that the board had a responsibility to take community complaints seriously, especially regarding the ongoing 'parking crisis' in residential neighbourhoods like Tubli. 'This board has an opportunity to stop a business opening near an already crowded area, which many complain already has inadequate car parking, and they don't want to stop it,' he said. His concerns were echoed by board services and public utilities committee chairwoman Huda Sultan, who emphasised the daily struggles of residents. 'People in Tubli in particular are already suffering from traffic jams and parking woes,' she said. 'We have to be mindful of the pressures we are adding to these communities.' Members vote in favour of allowing SMEs to open Despite the division within the board, the overall decision appears to reflect a clear stance favouring business development while calling for national-level urban planning solutions to solve parking challenges. The meeting highlighted a broader issue facing Bahrain's urban planning policies – the delicate balance between fostering economic growth through SME development and addressing the infrastructural demands that come with it. As the Capital Trustees Board moves forward with its agenda, the conversation around parking, traffic management and business facilitation is expected to continue – with interested parties across the country watching closely for sustainable solutions. The board's decision has been referred to Municipalities Affairs and Agriculture Minister Wael Al Mubarak to forward to Housing and Urban Planning Minister Amna Al Romaihi for review.
Gulf Insider
30-05-2025
- Business
- Gulf Insider
Lift Access And Braille Buttons Approved For Taller Buildings
A proposal to require wheelchair-accessible lifts and Braille-labelled buttons in buildings taller than three storeys was approved by the Capital Trustees Board during its yesterday's session. The changes would apply to both public and private buildings. They are intended to make access easier for people with physical or visual impairments, particularly in towers where stairs are not a practical option. Each affected building would need at least one lift wide enough for a wheelchair, with its controls marked in Braille. Daily movement Capital Trustees Board member Dr Bashar Ahmadi, who submitted the proposal, said it aimed to make daily movement safer and more practical for people with disabilities, including visitors to government buildings. During the meeting, board member Mubarak Al Nuaimi said the technical committee recommended limiting the requirement to buildings above five storeys. He added that new buildings should only receive a power connection once they meet the minimum accessibility criteria. Rules Mohammed Al Sahli, Director-General of the Capital Trustees Board, said public buildings such as ministries and state agencies have followed such rules for a decade. Retrofitting older structures remains a challenge, he noted. For private developments, much depends on the commercial priorities of the developer. The proposal will now be shared with the relevant planning bodies. Also read: Runaway Domestic Workers And Illegal Employer Arrested In Labour Law Violation Crackdown
Daily Tribune
29-05-2025
- Business
- Daily Tribune
Capital Trustees Board approves mandatory soundproofing proposal for multi-storey flats
A proposal to set soundproofing standards for floors in multi-storey flats was approved by the Capital Trustees Board during its session yesterday. The plan is intended to reduce disturbances in shared buildings and encourage quieter homes. Developers would be required to meet minimum insulation levels between floors, particularly in freehold properties. Dr Bashar Ahmadi, who submitted the proposal, said noise between flats is a common complaint. He pointed to the use of poor construction materials and designs that fail to block sound. The aim, he said, is to bring in standards drawn from practices already used in other parts of the world. Expectations Mubarak Al Nuaimi, who chairs the board's technical committee, said the measure would help set clear expectations for builders and buyers alike. It would also support building managers in handling disputes and allow inspectors to assess compliance more easily. The committee recommended making soundproofing a condition for issuing permits in new freehold developments. Idea Mohammed Al Sahli, Director-General of the Capital Trustees Board, said the idea could benefit buyers but noted that such matters fall under the Urban Planning and Development Authority. He suggested soundproofing could be left as an option, allowing developers to offer both insulated and non-insulated flats. Deputy Chair woman Khalood Al Qattan supported the view that buyers should be free to choose whether they want this feature. Also during the meeting, the board reviewed a report on messages received through the Tawasul platform between September 2024 and May this year. There were 1,823 complaints, 319 enquiries and 39 suggestions.
