Seef Properties, the leading integrated development company in the Kingdom of Bahrain, announced today the launch of LAMA Real Estate. The new venture is mandated to develop a major mixed-use project, located in Hamala, with an estimated investment of BD40 Million.
“It gives us a great pleasure to announce this significant project which comes as part of Seef Properties’ investment strategy. The core value of our strategy is to take the company’s growth to the next level by developing our robust real estate portfolio which in return will add further value for our investors,” said Seef Properties Chairman, Mr.Essa Najibi.
“We will continue our efforts in developing our business model and investments based on international standards and the needs of the local economy. Our core philosophy focuses on achieving high returns by investing in promising projects,” he added.
“The addition of this new project to Bahrain’s real estate sector will further enhance the tourism infrastructure in the Kingdom and support the national economy. Our priority, in the interim, is to finalize all details pertaining to the Hamala project in order to announce further details in the near future,” he added.
Further commenting on the project, Seef Properties CEO, Mr. Ahmed Yusuf, said: ““The main aim behind this unique project is to create a mixed-used development that can be positioned as a new shopping and leisure destination providing unparalleled services for residents and visitors.”
“Work will commence by the second quarter of 2017 with an aim to finalize the project by end of 2018. We are optimistic that this project will be an added-value to the Kingdom’s robust real estate sector and further support the Kingdom’s vision of attracting investment. The Hamala project, once completed, will be a new integrated destination attracting residents and tourists,” he added.
Headquartered in the Kingdom of Bahrain, Seef Properties was launched in 1999 as a publicly listed company.
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