Construction

Bahraini developer to build 4,000 affordable residential units

Project to provide high-quality, affordable villas for Bahraini nationals on medium incomes

Naseej, a Bahrain-based real estate and infrastructure development firm, has said it has concluded its second year of operations with two projects underway and a healthy project pipeline stream in place.

“Our most notable achievement was the signing of a landmark Public-Private Partnership (PPP) with the Housing Ministry,” Naseej chief executive Christopher Sims said. Under the deal, Naseej will be responsible for the construction of over 4,000 social and affordable housing units within three years, at a total cost exceeding $543.8m, he said.

The project requires the provision of high-quality, smart and affordable villas for Bahraini nationals on medium incomes. Naseej is also eyeing expansion opportunities beyond the borders of the Kingdom, Sims said.

“We identified a number of attractive investment opportunities in the GCC, Middle East and North Africa, Far East and Europe, which are expected to come to fruition in 2012,” he explained.

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