Financial services companies partner in Bahrain land deal

In this strategic partnership, KFI has been appointed as the managing company for the project, and will aim to divide the land into plots that can be sold at a later date to citizens, investors and organizations.

"The land, which has a water front of more than 240 meters overlooking King Fahad Causeway, is considered a prime investment among the real estate investments currently owned by the company. This project comes in line with our belief in the positive real estate market in the Kingdom of Bahrain, in particular, and the entire Gulf region in general." said Mr. Bader Abdullah Al Ali, Deputy CEO, GIH.

"The project is a part from the bank strategy aimed to investment and development in real estate sector in different areas in the Kingdom of Bahrain. KFI offers a diversity of real estate investment products to investors in the region." added Mr. Nabil Mohammed Hadi, Chief Executive Officer, KFI.

"This project will focus on re-planning and restructuring the land that we have purchased, and dividing it into large and small plots, with the primary focus being on utilizing the water front. The initial plan will contain more than 165 plots." said Mr. Majed Abdullah Al Khan, Direct Project Manager, KFI.

Mr. Al Khan concluded by saying, "It is important that both investment organizations adopt objective solutions in order to minimize residential congestion in areas of Bahrain by accurately and carefully planning some of newer developing areas in the Kingdom."