Alabbar announces $4bln Binaa Al Bahrain investment

PHOTO

Eagle Hills International chairman Mohamed Alabbar has announced a staggering $4 billion investment in the kingdom via its Binaa Al Bahrain venture.

This comes as a result of a joint venture agreement signed by Eagle Hills International, an Abu Dhabi-based private real estate investment and development company, with strategic Bahraini partners.

A newly formed real estate developer, Binaa Al Bahrain, boasts a portfolio of prominent real estate projects strategically located in the Muharraq, Southern, and Capital governorates and with key projects such as Southern City project, Al Furdah project, the next phase of Marassi Al Bahrain and further developments in Diyar Al Muharraq.

Commenting, Mr Alabbar stated, “The decision to invest in Bahrain through the establishment of Binaa Al Bahrain is a direct result of the remarkable success achieved with the Marassi Al Bahrain partnership. It represents a milestone in our collaborative efforts and underlines our commitment to further strengthen ties between the two countries while propelling transformative real estate projects in the kingdom.”

Aligned with Bahrain’s Economic Vision 2030, Binaa Al Bahrain aims to contribute even more significantly to the country’s long-term development through its iconic projects.

The company will focus on creating expansive mixed-use projects, offering diverse residential, commercial, and entertainment opportunities designed to elevate the overall local community experience.

In addition to the increased investment, the joint venture aspires to create extensive job opportunities for young Bahrainis not only within the real estate sector but also in hospitality and healthcare.