Edamah, the real-estate arm of Bahrain’s sovereign wealth fund Mumtalakat, is promising to make 2020 the year it starts delivering on an ambitious array of major projects.
Revitalised under the leadership of chief executive Amin Alarrayed, it will celebrate:
Completion of the first phase of a ‘beach town’ on Bahrain’s south-western coast
Opening of a multi-storey car park at the island’s busiest hospital
Successfully bringing Muharraq ‘back to the sea'
“Last year, in 2019, it was all about the planning, so in 2020 we start delivering,” Mr Alarrayed said.
“We have a car parking project at Salmaniya Medical Complex, the Sa’ada Project, a major waterfront complex in Muharraq, and Bilaj Aljazayer Phase 1, which will be just the beginning. What we really want to do is create a beach town.
“To highlight Edamah’s strategic positioning, we are taking on projects that make financial sense and have a positive social and economic impact.
“We want things to be a significant draw and the creation of destinations is a key strategic objective.”
Work is also progressing on creating an education park in Isa Town, in partnership with developers and operators Mayasem, and setting up a major industrial park in Sitra attracting start-ups as well as established companies needing storage space.
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