In line with its commitment to enhancing regional cooperation and strengthening economic and commercial ties between GCC countries, Diyar Al Muharraq, the leading real estate development company in the Kingdom of Bahrain, welcomed a high-level delegation from the Sultanate of Oman Chamber of Commerce and Industry and the Kingdom of Bahrain Chamber of Commerce and Industry on Sunday, February 24 2024, to explore the city’s projects.
The tour was led by Mr. Abdulhakeem Yaqoob Al Khayyat, Chairman of Diyar Al Muharraq, and Eng. Ahmed Ali Alammadi, Chief Executive Officer of Diyar Al Muharraq, along with a number of company executives. The visit commenced at Diyar Al Muharraq’s Sales Center and covered various projects in the city, including a detailed presentation on the diverse projects encompassing residential, commercial, and recreational developments within the city that aim to provide the highest standards of quality and luxury for residents and visitors.
Sameer Abdulla Nass, President of the Bahrain Chamber of Commerce and Industry, ensured that the Chamber places great emphasis on supporting the real estate sector and overcoming all potential obstacles. This initiative aims to elevate its role as a fundamental pillar in the growth and development of the national economy. He also highlighted the importance of strengthening the joint cooperation frameworks between real estate developers in both the Kingdom of Bahrain and the Sultanate of Oman in order to enhance the effectiveness of developmental integration and drive further collaborative opportunities across various economic sectors.
He also emphasized the importance of major real estate investment projects in strengthening investors confidence in the national economy and increasing competitiveness levels in comparison to other markets, pointing out that Diyar Al Muharraq’s projects fall under the Kingdom’s National Development Strategy aiming to achieve comprehensive development similar to many real estate projects in the local market. He also highlighted the strong historical and familial ties between the Kingdom of Bahrain and the Sultanate of Oman and their ongoing cooperation towards the achievement of joint aspirations and economic prosperity, especially in commercial, investment and industrial sectors.
On his end, Engineer Reza bin Juma Al Saleh, a member of the Board of Directors of the Oman Chamber of Commerce and Industry, commented that the Omani trade delegation’s visit to Bahrain comes as part of the joint efforts of both countries to promote trade and investment exchange and open new prospects for investment and cooperation between businessmen in the private sector.
He added: “The future visions of both countries, Oman 2040 and Bahrain 2030, boast many opportunities in the sectors relied upon to achieve economic diversification. As such, our role in the Oman Chamber of Commerce and Industry, in collaboration with the Bahrain Chamber of Commerce and Industry, is to create the ideal platform for businessmen from both countries to meet and establish partnerships through the exchange of trade delegations and by hosting business forums.”
He also emphasized that the establishment of the Omani-Bahraini Investment Holding Company and the formation of its Board of Directors represent a transformative shift in the economic cooperation between the two countries, especially in sectors such as food security and other industries underpinned in both countries’ visions. Through its strategic directives to expand the base of economic diversification, the Oman Chamber of Commerce and Industry reaffirms its efforts to develop ways to attract investments and enhance private-sector partnerships.
On the occasion of the visit, Mr. Abdulhakeem Yaqoob Al Khayyat, Chairman of the Board of Diyar Al Muharraq, said: “We are pleased to have had this significant visit, which serves as a testament to the deep ties between the Kingdom of Bahrain and the Sultanate of Oman. This tour represents an ideal opportunity to introduce Diyar Al Muharraq, the largest comprehensive real estate development project in the Kingdom of Bahrain. This visit also reflects our commitment to enhancing strategic partnerships and building bridges of communication and partnership between the community and the private sectors of both countries. We are confident that this visit will contribute to boosting trade exchange and deepening mutual economic ties between the Kingdom of Bahrain and the Sultanate of Oman, in addition to opening new horizons for future cooperation between the two countries.”
Diyar Al Muharraq is the largest integrated residential city in the Kingdom of Bahrain, characterized by its luxurious nature and adherence to the Bahraini community’s family values. It encompasses a diverse range of housing solutions and high-quality modern lifestyles, alongside a unique mix of residential, commercial, and recreational facilities that establish the model of a modern, integrated, and futuristic city.