ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al Bahrain company aims to create expansive mixed-use projects, offering diverse residential, commercial and entertainment opportunities designed to elevate the overall local community experience.
The JV was set up by an agreement between Eagle Hills International, an Abu Dhabi-based private real estate investment and development company, with strategic Bahraini partners.
Binaa Al Bahrain, the newly formed real estate firm, is now set to become a paramount developer in the Kingdom, boasting an expanded portfolio of prominent real estate projects strategically situated across various areas within Bahrain, a press release said.
These projects are located in the Northern Governorate, Southern Governorate, Muharraq Governorate and Capital Governorate and with key projects such as the Southern City masterplan, Al Furdah and further developments in Diyar Al Muharraq.
Mohamed Alabbar said, “The decision to invest in Bahrain through the establishment of Binaa Al Bahrain is a direct result of the remarkable success achieved with the Marassi Al Bahrain partnership.”
He said, “It represents a milestone in our collaborative efforts and underlines our commitment to further strengthen ties between the two countries while propelling transformative real estate projects in the Kingdom.”
Aligned with the Kingdom’s 2030 Economic Vision, Binaa Al Bahrain aims to contribute significantly to Bahrain’s long-term development through its iconic projects.
In addition to the increased investment, the JV aspires to create extensive job opportunities for young Bahrainis not only within the real estate sector but also in hospitality and healthcare.
With a team of seasoned professionals dedicated to delivering high-quality projects, Binaa Al Bahrain is now poised to transform the Kingdom’s real estate sector even further.
The company will continue building innovative, sustainable developments that retain the Bahraini identity and foster growth and economic progress in the Kingdom.
Eagle Hills International, under the leadership of Mohamed Ali Alabbar, continues to leverage its financial prowess, expertise and extensive networks to lead the development of large-scale, master-planned communities, the press release added.
Currently spearheading transformative initiatives, including the Marassi Al Bahrain project in Diyar Al Muharraq, Eagle Hills remains committed to enhancing local economies and providing holistic living and working solutions across high-growth markets in Europe, Africa and the Middle East.