Bahrain and UAE sign $4bn real estate deal

Bahrain and UAE sign $4bn real estate deal

A UAE property investment and development company has signed a $4 billion deal to develop real estate across Bahrain. Abu Dhabi’s Eagle Hills International has finalised a joint cooperation agreement to set up Binaa Al-Bahrain, with a focus on residential, commercial and entertainment projects across the kingdom. The new company will work with Edamah, the […]

Eagle Hills to work with Edamah

Focus on ‘sustainable projects’

Bahrain remains relatively affordable

A UAE property investment and development company has signed a $4 billion deal to develop real estate across Bahrain.

Abu Dhabi’s Eagle Hills International has finalised a joint cooperation agreement to set up Binaa Al-Bahrain, with a focus on residential, commercial and entertainment projects across the kingdom.

The new company will work with Edamah, the real estate arm of Bahrain’s sovereign wealth fund Mumtalakat, according to a report by state-run Bahrain News Agency.

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Mohamed Alabbar, board of directors chairman of Eagle Hills, said the real estate investment will “strengthen Bahrain-UAE relations”.

The company will “build sustainable projects that would preserve Bahraini identity and promote economic growth”, the report said.

Eagle Hills International is behind the development