Environmental Economics
Mohamed Alamin
Exploring the potential for Carbon trading ...

Carbon Emissions and their relation to climate change are significant and have large societal and economic impacts globally. This has led to ambitious plans worldwide to promote decarbonisation and move away from fossil fuels as a primary energy source, including the GCC countries, with the example of Bahrain and Saudi Arabia pledging to go “carbon neutral” by 2060. This article intends to explore how a carbon trading scheme can help the GCC achieve its “carbon neutrality” status. We explore the following: First, what is a carbon-trading scheme, and what evidence exists of its effectiveness around the world, secondly, we explore the current state of GCC emissions and what these emissions could mean towards the region. Last, we look at the implications of continuous unchecked GCC emissions for the region, and what policy recommendations we can implement to counteract them.

Exploring the potential for Carbon trading schemes in the GCC

Real Estate Economics

Can the ratification of the GCC Land law revive the Real Estate and Construction Industry?

Can the ratification of the GCC Land law revive the Real Estate and Construction Industry?

Bahrain has recently ratified Article 1 of the Legislative Decree No.40 of 1999 which grants GCC nationals unrestricted land ownership in Bahrain. Article 1 states that ‘Nationals of GCC States may own constructed properties and lands in the State of Bahrain by any prescribed method of legal, well or inheritance conveyance between individuals and shall be treated in this respect as Bahrainis’.

Previously, all non Bahrainis were limited to a Freehold Title restricted to certain designated investment areas such as Juffair, Seef, Amwaj Islands, Reef Island, Durrat Marina, Durrat Al Bahrain amongst others. However, with the ratification, Bahrainis and other GCC nationals can hold a Freehold Title on property anywhere throughout Bahrain. As per Ahmed Al Haddad from the Shura council, GCC nationals make up 93% of all Freehold Title ownership, while Non-GCC nationals make up just 7% of Freehold Title ownership. In this article, we will explore what the ratification of this law could potentially mean for the Real Estate and Construction sector.