Indian organization to increase Bahrain project investment to $300m
A news report says that the Indian real estate firm Ajmera Mayfair Realty will raise its current investment in Bahrain Bay Development from USD 30 million to USD 300 million. News report further says that the Real estate developers Ajmera Group and Mayfair Housing have formed the Ajmera Mayfair Realty Group and jointly invested in the acquirer of waterfront land piece at Bahrain Bay.
The company will start construction of a 50-storey commercial tower by the end of this year. The Ajmera Mayfair Realty Group representatives met Bahrain’s King Hamad during his visit in India which had been organized by a business delegation that included Bahrain Bay Development deputy chief executive Abdulla Al Doseri.
Rajnikant Ajmera and Nayan Shah collectively said that they are very enthusiastic about the Bahrain Bay project, a unique waterfront construction that motivates us to select this project as our first overseas investment.
According to Mr. Shah, the development speed is giving them the confidence to increase their investment. According to this report, Mr. Al Doseri has shown confidence in Ajmera Mayfair.
He also says that Bahrain Bay has remained stable through the economic uncertainties of last 10 years, which has inspired public and helpful in making strong network of trusted persons and investors.
Situated in the North East and in middle of Manama city, Bahrain Bay is currently valued at USD 2.5 billion.
Source: The Business Standard
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