Bahrain Real Estate Sector Regulation Law
Introduction
Bahrain Law No. 27/2017 Promulgating the Real Estate Sector Regulation Law brought about significant changes and introduced new real estate regulatory standards and provisions in the Kingdom of Bahrain. It marks the first law in Bahrain that provides a comprehensive regulation of off-plan sale developments, licensing of real estate practitioners, common properties, property acts of disposal and mortgages.
It is worth noting that Bahrain Law No. 27/2017 superseded several existing laws related to real estate in Bahrain. Firstly, Bahrain Law No. 27/2017 repealed Bahrain Legislative Decree No. 21/1976 with respect to regulating the Real Estate Brokerage Profession. Furthermore, Bahrain Law No. 27/2017 also repealed the provisions governing ownership of storey buildings and flats set forth in articles 814-843 of Bahrain Decree-Law No. 19/2001 On the Issuance of the Civil Law. Bahrain Law No. 27/2017 also repealed Bahrain Law No. 28/2014 with respect to Real Estate Development.
The commentary provides a thorough understanding of the new provisions introduced by Bahrain Law No. 27/2017 which are described below.