7th APRIL 2015 - Vol.XXXVIII No.018

Real estate rent rises ridiculously inflated

Greed and easy money-making fever has gripped Bahrain severely. If powerful insecticides are not sprayed immediately, many businesses will fall dead soon.

It first infected the greedy landlords who increased the rents of flats all of a sudden without notice to as high as 40 to 50 per cent.

Nobody took care to contain the contagious disease then. As such, it spread to property developers and builders. They have squeezed in more than 90pc of the cost of the apartments sold to investors for work less than half done and delayed indefinitely.

Still nobody took any initiative to stop the spread of this disease. As a result, it infected the Labour Market Regulatory Authority (LMRA). It is charging employers BD10 for each expatriate they hire.

Yet, every one stayed cool, ignoring the dangers the spread of this disease could cause. At last, as expected, the inevitable happened. It infected Manama Municipality to a dangerously high and risky level.

The municipality has increased the rents of all its properties 10 to 15 times the existing rent, 'Eviction threat in rents row' (GDN, August 8).

Now, I leave it to the officials who judged the results of the recent weightloss competition to declare the most greedy, heartless and worst among the three in this easy money-making race - landlords, the LMRA or the municipality.

Abraham Samuel (Bijji)

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