3 days ago
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.'
