Bahrain Real Estate News
Naseej presents healthy project pipeline in Bahrain market
The year 2011, despite being a challenging one for Naseej, the company has a healthy project pipeline stream in place. The company has been chosen as pioneer in offering affordable housing in Bahrain market.
The Chief Executive, Christopher Sims, in their annual report, said that the signing of the landmark Public-Private Partnership (PPP) with Housing Ministry has been a notable achievement in the annual report of the company.
This involves construction of more than 4000 social and affordable housing units within three years, worth a total of more than BD205mn. Apart from being the first for Bahrain, this PPP is the first-of-its kind for the GCC.
Apart from the PPP, Naseej already has an affordable housing project in Saar. The project will bring about high-quality, affordable villas for mid-income nationals in Bahrain. The development will be a cohesive and sustainable community, creating a new template for development.
Further, Sims mentioned that there are several attractive investment opportunities being identified in the GCC, MENA, Far East and Europe markets this year. Several other measures too have been taken to remain successful this year, with net profit for the year ending being higher than originally forecasted, he said.
Posted on 11/7/2012
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