Manama – Kingdom of Bahrain: Bahrain Real Estate Investment Company (Edamah), the real estate arm of the sovereign wealth fund of the Kingdom of Bahrain, announced the appointment of two companies to modify and enhance the beach for the first phase of Bilaj Al Jazayer, located in the west of the Kingdom of Bahrain, with a total investment of BD 3 Million. The two agreements were signed during the Bahrain International Property Exhibition (BIPEX 2018), where Edamah are participating as Signature Sponsors from November 1-3.
The first phase of the Bilaj Al Jazayer project comprises of improvements to approximately 1 km of unrestricted vacant beachfront to be later enhanced by a landscape promenade, F&B, and supporting beach amenities. The contracts, which will work on improvements to 1 kilometer of the existing beach, and will provide two beaches out of several, will develop a walking path alongside the coast, in addition to the accompanying services. Bilaj Al Jazayer will serve as a prime destination for leisure and entertainment open to the public where the coast will be open to tourists and locals alike. The second phase of the project will include building a 4-Star hotel situated on the coast to serve the visitors who wish to spend more time at a seaside resort.
Edamahs’ vision to transform the Bilaj Al Jazayer existing beach into a world class beach front destination aimed at catering to Bahraini families, GCC nationals, and tourists, is in line with the 2030 vision targeting the preservation of public waterfront spaces and the creation of sustainable tourism.
CEO of Edamah, Amin Alarrayed said in a statement: “We are pleased to announce the appointment of Al Hassanain Company and Nass Contracting as the main contractors for Bilaj Al Jazayer beach improvement works. The scope of this phase of the project is expected to conclude by the Third Quarter of 2019. These improvements will offer supporting amenities and entertaining facilities for locals and tourists, which will subsequently create attractive opportunities for investors.”
Alarrayed added: “We aim through our strategy to implement a number of vital projects in line with Bahrain Economic Vision 2030, as the current priority focuses on conducting developmental projects that achieve financial sustainability and assesses ways to enhance the national economy and achieve social well being.’
The project of developing Bilaj Al Jazayer includes an agreement with Al Hassanain Company to modify and rehabilitate the current beach and provide one that is suitable for swimming. A. Ahmed Nass Contracting is appointed to supply the required rocks necessary for the beach improvement works.
Edamah manages a portfolio of real estate assets worth 190 million Bahraini Dinars and currently works on several developmental projects while exploring real estate initiatives in the hospitality and retail sector. Their projects include “The Terminal” complex, which was launched last year in Adliya, and a mixed-use waterfront project, “Sa’ada”, being developed in Muharraq.
Edamah’s projects can be viewed at Edamah’s stand “G-05” in BIPEX 2018 in the Bahrain International Exhibition and Convention Centre from November 1st until November 3rd or on their newly launched website www.edamah.com