Amlak sells Al Khawaneej plots
Bahrain, March 24, 2008
Amlak Finance has launched the sale of Al Khawaneej land through Al-Khayyat Real Estate.
The plot of land, which sits on a total of 1,656,144 square feet, is dedicated for labour accommodation projects, the company said in a statement.
Amlak Finance Chief Executive Officer Arif Alharmi said the decision to sell Al-Khawaneej comes at the appropriate time, as the demand in the market for the size of the land and the location is at its best.
The land is offered with a flexible one year payment plan which offers easier access to these premium plots of land to potential investors, he said.
“Real estate investment is one of our main business lines, and with our investments portfolio reaching over Dh6 billion, we aim to continually grow this line of business in order to further enhance our shareholders’ value by diversifying the company’s revenue streams,” he said.
“Our objective is to assist the investors in acquiring premium plots of land for development purposes through offering innovative and flexible payment plans as well as to achieve better returns on our investments and enhance our shareholder value,” emphasized Alharmi.
Amlak recently also acquired six million square feet of land in Al Warqaa from the Dubai government, intended for a multi-use development totalling a gross floor area of 8.5 million square feet. – TradeArabia News Service