Search Site

Trends banner

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Bahrain to spend $324 million to build over 1,300 flats in Salman City

    • Salman City began its life in 2018 as Salman Town in the Northern Governorate of Bahrain, and was initially spread over 10 man-made islands

    • Since then, it has grown to cover 740 hectares of land as more islands have been added to this ambitious housing project

    Bahrain plans to build a total of 1,382 flats on Island 12 of Salman City at a cost of BD123 million ($324 million), said local reports on Sunday, July 18.

    This is part of a big residential development project, said the reports, adding that it is likely to be completed by the second quarter of 2023.

    It is also part of the Government Action Plan (GAP), which stipulates the construction of 25,000 flats to meet the needs of applicants who are on the waiting list.

    Salman City began its life in 2018 as Salman Town in the Northern Governorate of Bahrain, and was initially spread over 10 man-made islands.

    Since then, it has grown to cover 740 hectares of land as more islands have been added to this ambitious housing project.

    The local reports quoted Bahrain’s Housing Minister Bassem Al Hamer as saying that the new flats would be built as part of the general blueprint of the Salman City.

    The minister stressed the importance of the project in meeting the growing demand for flats in the Northern Governorate and other areas.

    He said the ministry was focusing on sustainable development. This, he said, would be reflected in the Salman City project through the use of renewable energy and recyclable materials.

    The project will also have open areas, cycling lanes, and children’s gardens, said the local reports.

    “Most of the flats have been designed to look out on green spaces — parks, gardens and the 40-km-long beachfront cycling and walking lanes,” said the minister.