Kuwaiti real estate developer First Bahrain expects to start work on a $50-million mixed-use commercial and residential development in Bahrain this year.
The company’s general manager Amin Al Arrayed said the project will be built in two phases with 12,000 sq m of land earmarked for residential use and another 8,000-sq-m adjacent plot for non-residential developments in the Janabiya area of the kingdom.
“We are focusing on starting additional properties in Bahrain and regional expansion of our wholly-owned subsidiary Majaal,” he said.
Majaal’s maiden project, an industrial facilities development at the Bahrain Investment Wharf, is fully leased out. Selling development management services to other land owners, who wish to develop industrial facilities, is a new service line started by Majaal last year.