Bahrain Mumtalakat is planning to invest in the kingdom’s real estate sector in the next few years.
According to Mumtalakat CEO Mahmood H Al Kooheji, total investment will reach $500 million (Dh1.84 billion) over the next five years.
The new projects will include hotels, shopping malls, and spas.
“There is a huge demand for real estate and tourism-related projects in Bahrain due to the large number of Saudis travelling to the country to spend time,”
“The supply is not matching the demand and we hope to fill the gap with the new projects,” said Al Kooheji.
Two new hotels are currently being planned, a Fairmont and one in partnership with Dubai’s Jumeirah Group, with an investment worth over $300 million.
Bahrain Mumtalakat is also looking to invest in the Far East, the US, Europe, and Saudi Arabia.
“We fully support the reforms programme in Saudi Arabia. It is the biggest market in the GCC and there are plenty of opportunities. We are ready to partner with any Saudi company for investments,”Al Kooheji added.