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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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"Durrat Al Bahrain" project to be completed by 2006

Bahrain breaks some stereotypes associated with Arab Gulf countries. First, it's not rich on oil, although it represents a huge chunk of its exports. Second, Shi'a Muslims are majority, which increases the influence of Iran in the domestic politics. Third, it has more liberal regime for foreign investors, second only to some parts of the United Arab Emirates (UAE). Fourth, it's a constitutional and not absolute monarchy. This makes the political life more unpredictable in short term, but more stable in long term if the liberal political institutions hold. Bahrain represents particular case on the Arab peninsula, which explains the need to look at it more closely.

Bahrain first among its Gulf neighbors has depleted its oil reserves, which are now barely enough to satisfy its domestic consumption. On the other hand, it still exports huge amount of petroleum products. Some of processed crude oil comes from Saudi Arabia as grant; some is imported on subsidized prices. In fact Bahrain is heavily dependent on Saudi Arabia for its economic survival. A sudden emotional change in Saudi foreign priorities can bring collapse to Bahrain economy, which still depends on petroleum exports for substantial part of its state budget and for financing different economic and social programs.

Saudi's largesse has political as well as social reasons. Bahrain being largely a Shi'a Muslim society can easily fall under the influence of Iran, the Saudi's Gulf archrival for influence among a billion Muslim community around the world. Another reason for Saudis not to want Bahrain collapse into political turmoil is that the tiny archipelago of 33 islands is situated too closely to the main Saudi oil fields. In a sense granting its economy with cheaper oil is an additional security policy for the Saudi's royal family. Third reason is that political turmoil in Bahrain can easily pass the border with Saudi Arabia and political changes of any sort are definitely not on Saudi's agenda.

Being unable to keep the living standard high by just pumping oil from the earth, Bahrain authorities are forced to look for more complex strategies. Like UAE but unlike the other Arab Gulf countries Bahrain has opened up selected areas of its real estate for foreign investors. Second perhaps only to Dubai in UAE, Bahrain is most developed and interesting market for the expatriates. New projects are aiming foreign specialists, working in the nearby Saudi oil fields. It's technically and legally possible for the families of expats to live in Bahrain while the specialists go working to Saudi Arabia on daily or weekly basis. It's suggested in order to avoid the red tape to hire regional specialist to deal with local bureaucrats, which although not corrupted aren't renown for their fast work.

Right now the residential prices in Bahrain are rather moderate but are expected to double in the next 5-6 years. It's possible to buy land for residential use for $20-30,000 and make your house built for another $40-50,000, work and materials included. Several luxurious villa and condo projects like "Durrat Al Bahrain" are under development. The detached luxury houses can go beyond $1 million.

The more liberal social and political system in Bahrain compared to Saudi Arabia is apparent in two key domains: alcohol and women rights. Alcohol is easily available in pubs and shops. Women can work and drive and don't need to cover everything while walking on public places; the only unpleasant side of this more liberal clothing code is the males' excessive attention.

Bahrain Country Profile:

• Area: 665 sq km.
• Population: 667,238, including 235,108 non-nationals (July 2003 est.).
• Population growth rate: 1.61% (2003 est.).
• Life expectancy at birth: 73.72 years.
• Ethnic groups: Bahraini 63%, Asian 19%, other Arab 10%, Iranian 8%.
• Religions: Shi'a Muslim 70%, Sunni Muslim 30%.
• Suffrage: 18 years of age, universal.
• GDP per capita: purchasing power parity $15,100 (2002 est.).
• Labor force: 295,000, 44% of the population between 15 and 64 is non-national (1998 est.).
• Industries: petroleum processing and refining, aluminum smelting, offshore banking, ship repairing, tourism.
• Main trading partners: Saudi Arabia, US, Japan, Germany, India.
• Economic aid recipient: $150 million.
• Internet users: 140,200 (2002)

(Source: CIA - The World Factbook 2003)

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See also the directory of companies providing real estate services in, and general real estate information of Bahrain.