MANAMA: Al Khaleej Development Company (Tameer), the real estate development arm of Inovest Group, has obtained a property developer licence from the Real Estate Regulatory Authority (Rera).

The company said the licence marks the first step in its strategic plan, which would see it actively developing affordable housing projects.

Inovest’s chief investment officer Talal Al Mulla provided greater insight into the development: “In accordance with a three year plan, Inovest stands solidly poised to capture a clear opportunity through the studied expansion of Tameer’s activities which will in effect contribute to strengthening the group’s overall presence and achieve sustainable and stable returns in the years to come.”

Mr Al Mulla added: “Tameer’s initial mandate will be to develop and contribute to the provision of affordable but quality-driven housing solutions at a national level. To that end, Tameer is in the final rounds of negotiations with key partners towards agreements for such projects, which we look forward to announcing in due course.”

Inovest has in the past developed comprehensive residential communities such as Tala Island in Amwaj, individual and traditional warehousing and storage zones under Takhzeen, as well as industrially zoned infrastructural mega projects such as Bahrain Investment Wharf.

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