GCC-based investment bank launches USD8.5 million building project

The Mabani Investment product allowed local and international businesses and individuals to invest in two residential buildings in a prime location in the Kingdom of Bahrain.

"We take pride in providing promising investment opportunities and high quality services to our investors. We are pleased that Gulf investors have been able to own two major residential buildings in the Kingdom of Bahrain through this opportunity." said Mr. Nabil Hadi, Chief Executive Officer, Khaleej Finance and Investment.

The recently acquired buildings are two residential towers, each 10 storey high built on an area of 13,800 square feet in Gudaibiya, Manama.

"This project keeps pace with the Bank's strategy of launching low risk investment products specialized in income generating in real estate investments in the Gulf region, and focusing on taking advantage of steady growth rates in the property market prevailing in the Gulf area. The purpose is to benefit from the growth oriented thinking of Gulf investors following the unprecedented boom in the Gulf real estate market,"

Hadi added.

"The targeted return from the Mabani property investments is 10% as an annual cash return to be distributed on a quarterly basis and a targeted internal return in excess of 12% over the investment period estimated at 3 years", said Mr. Majed Al Khan, Principal - Direct Investment, Khaleej Finance and Investment.

"This real estate investment product is the latest in a series of real estate products launched by the Bank. This series includes four Ijara products that have been launched previously with a value of more than U.S. $20 million," Al Khan added

The placement process has targeted strategic investors in Bahrain and other regional countries. The minimum subscription amount per investor is U.S.$50,000/-.