Bin Faqeeh, a leading Bahrain-based privately-owned real estate investment, announced that it has opened its first office in the Kingdom of Saudi Arabia which comes in line with its expansion strategy aimed at strengthening its presence in the region. Bin Faqeeh is considered to be one of the first companies in the region to take advantage of the recent positive changes in the real estate regulations in GCC and it opened a number of offices in various markets including Saudi Arabia.
The company held a launching event on 4th of April at Kempinski Al Othman Hotel Al Khobar in which a number of real estate agents and key dignitaries were invited. The event was attended by company Chairman, General Manager and Country Manager of Kingdom of Saudi Arabia.
On this occasion, Mr. Faisal Faqeeh, Chairman of Bin Faqeeh[/highlight] commented, “It’s our pleasure to announce the opening of our branches in the Kingdom of Saudi Arabia in order to serve our valued clients in the utmost professional manner.”
“We also very proud to announce to the owners and investors that a number of our outstanding projects are set to be handed over, after completion of all luxury finishes, facilities and final touches.”
“With the completion of 8 real estate development projects, the total number of delivered projects will reach 30 projects, they constitute 80% of total projects in the pipeline. We are very proud of these consecutive milestones, which contribute significantly to the development of the real estate sector in Bahrain.” He added.
“We are confident that the owners will be very happy to get their luxurious residential apartments, which have been designed and built according to the world class standards. We have been very keen to integrate these projects with comprehensive facilities in order to turn them into a perfect living destination for families where they can spend quality time.
“Delivering these projects in the first half of 2017 will play a vital role in giving the real estate market in Bahrain a strong momentum. It will positively impact investors’ confidence as well as boosting real estate trading activity.
“The real estate sector in Bahrain is promising and has many potentials despite the volatility in global oil markets. It is one of the most developed and stable markets in the region in terms of its ability to grow, expand and investment returns.
“We are pleased to take this opportunity to extend our sincere thanks and gratitude to the wise leadership of the Kingdom of Bahrain for their continued support and encouragement for the private sector to play an active role in the economy, which has contributed into realizing these achievements and transform our visions into reality.
“We also would like to thank our shareholders and investors for their support and trust, without them we wouldn’t have been able to make these achievements or continue launching more innovative projects. Moreover, we reemphasis our commitment to continue our hard work and efforts to complete construction works in the remaining real estate projects.” Mr. Faqeeh said.
In this regard, Bin Faqeeh announced that it has completed 30% of the construction works in “Water Bay” project, which is a 3 residential towers project built in Bahrain Bay and consists of 196 apartments each, a total of 588 apartments. The same applies to “Hidd Heights”, which is a 13 floors residential tower built next to Prince Khalifa bin Salman Park and includes furnished apartments of different sizes.
In addition to that, the construction work in ‘Alsidra’ project has already commenced. This project is an impressive luxury villa community with an astonishing 465 villas of varying designs and capacities located at Diyar Al Muharraq. Also work is already in progress in the ‘Layan’ Project.
“We are very proud to be [highlight color=”green”]Bahrain’s leading real estate developer[/highlight], which aims to positively influence the Kingdom’s real estate sector through introducing distinctive development projects with attractive and lucrative returns. Bin Faqeej also seeks to support Bahrain’s economy by attracting foreign capital by creating unique investment opportunities while maintaining a high level of quality and luxury. In addition, we have played other roles to promote our economy by sponsoring key economic events such as the Bahrain International Property Exhibition (BIPEX), Cityscape India, Gulf Property Show, Jewellery Arabia and others.
“Bin Faqeeh is implementing its “Limited 5” plan, which entails the launch of an exclusive limited edition luxury project each year for five years. These properties will reward its tenants with luxurious lifestyle experiences unlike any in the entire GCC.
“As a part of its believe in the importance of supporting the real estate market in Bahrain, Bin Faqeeh aims to provide housing solutions that suit different tastes and different segments in the society. The company also intends to expand its operations to the rest of the Gulf countries in the near future.” Mr. Faqeeh concluded.
Mr.Faisal Aldoseri, Country Manager at Kingdom of Saudi Arabia, also commented on the goals behind the opening of the company’s branches in Saudi Arabia which were mainly to serve its Saudi clients who account to 36% of all its client-base. This required the company to affirm its intention to provide the most professional service possible through its branches in Khobar and Al Riyadh. In addition, the company plans to open a branch in Jeddah soon in order also to serve the clients in that part of the region.
Bin Faqeeh recently won MEED’s Residential Project of the Year 2017 Award. The company’s Dar Al Salam Project has won the award against many real estate competitors in the GCC for its outstanding role in building and designing a unique project and for ensuring quality in every aspect of the project management process.
The company was also honoured with the Best Residential Development in Bahrain for their marvelous landmark project Layan while also being bestowed with the distinctive award of Best Development Marketing for the same property. They also jointly received awards within the Mixed Use Architecture category for the innovative properties Waterbay and Layan, alongside Arab Architects, complimenting Bahrain’s commitment to revolutionize the real estate industry regionally and globally.
In less than a decade, Bin Faqeeh has successfully established itself as leaders in the market. The company aims to be the benchmark for generating innovative investment opportunities, merging global best practice and regional investment acumen to deliver profitable and value adding ventures to shareholders, clients, business partners, employees, and the communities it serves.
