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Bahrain Property | Investate Realty Bahrain based real estate company
By property | November 9, 2008
Investate Realty, the Bahrain-based real estate company, making a $18mn profit, which translates into 22 percent return annually on paid-up capital.
According to the Investate Chairman, Dr. Habib Al Mulla, the results are the proof to the company’s vision of sustained growth through expansion of its operations both locally and internationally.
Within a year of its operations, Investate has unveiled four development projects within the GCC and in Central London, with a total value worth $1.9billion.
‘Octavian’ and ‘Beachfront Living’ are its two projects in Dubai, which are making good progress. About 70 percent of Octavian project has already been sold out, while 50 percent of Beachfront Living has been sold. With such strong pre-sale of projects, about 10 percent of the invested capital has already been returned to shareholders by the company.
Al Mulla said that Investate is eagerly looking forward to commence work on, the $400million worth high-end residential development, with the partner, Omniyat Properties. The development is situated in the Bahrain Financial Harbour District.
Investate also recently announced acquisition of a 4.5acre prime waterfront property on the banks of River Thames in Central London at attractive entry prices, by taking advantage of prevailing market conditions.
The company aims to develop a £350million mixed-use development with high-end residential units, commercial and retail space, and a five-star hotel surrounding the marina.
Even the company’s London project, ‘Tideway Wharf’ is a valuable project, considering London’s stature as a global business hub. The recent announcement that said the relocation of the US Embassy to the Nine Elms Site, located adjacent to the Tideway Wharf, will add immense value to the area, commented a company official.
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