In a move affirming its strong commitment to the local market, Kuwaiti real estate developer First Bahrain Real Estate Development Company K.S.C. today announced the appointment of distinguished Bahraini businessman Mr. Waleed Ahmed Alkhaja as its new Chairman for a term of three years. The appointment demonstrates the shareholders focus on Bahrain and their clear optimism with regards to the local property market.
First Bahrain Real Estate Development Company (“First Bahrain”) yesterday held its Annual General Meeting (AGM) for the year ended 31 December 2013. In the meeting, the Company announced several milestones, which included the successful completion of its first industrial facilities development, a 400,000 square foot facility consisting of seven buildings, specially designed to support the needs of small to medium sized enterprises, and the amicable resolution of an outstanding debt with former shareholder, Housing Finance Co. (ISKAN).
In a recent interview with Marcopolis, First Bahrain General Manager and Majaal Managing Director Amin Al Arrayed discusses the SME sector of Bahrain’s economy and how Majaal has been developed with this target market in mind.