MANAMA: Seef Properties, an integrated real estate developer, has established a new real estate company in collaboration with strategic partners, to develop a new mixed-use waterfront project in the Capital Governorate.
The company’s chairman Essa Najibi said the announcement was part of a strategy to further expand the investment portfolio to strengthen its position in the real estate sector.
“We look forward to developing more projects that will enhance Bahrain’s tourism infrastructure as well as contribute to the national economy,” he added.
“Currently, we are in the process of developing a project plan as well as appointing consultancy firms for the master plan. Further details regarding the project will be announced upon the completion of this phase.”
Seef Properties owns 25 per cent stake in the new company with the rest owned by strategic investors.
As per the agreement, the project’s development will be carried out in several phases.
Seef Properties chief executive Ahmed Yusuf said: “The main objective is to create an integrated real estate destination that meets the residential, shopping and leisure needs of visitors and residents. We are confident that this project will add value to the real estate sector and to the investors in general.”
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