Bahrain Mumtalakat Holding Company (Mumtalakat) has appointed Amin Al Arrayed, a real estate industry veteran, as the new chief executive of its unit Bahrain Real Estate Investment (Edamah).

Al Arrayed has extensive executive experience in real estate development, where he has led First Bahrain Real Estate Development Company since 2007 and contributed to the development of several successful real estate projects that have achieved significant returns and income.

These include the "El Mercado” project in Janabiya, which comprises a commercial compound and residential villas, and the “Majaal” project which involves the development of industrial facilities for small and medium enterprises (SMEs) in the Hidd area.

Welcoming the appointment, Khalid Al Rumaihi, the chairman of Edamah, said: "We look forward to working together with the new CEO of Edamah to strengthen the investment environment in the real estate sector, which boasts many opportunities for investment, stability and growth, through Edamah’s role in the management of a diverse portfolio of real estate assets in the kingdom."

"We will also work on the development of important real estate projects in the commercial and tourism sectors, targeting increasing demand from individuals and businesses, as well as contributing to the diversification and development of the Bahraini economy," stated Al Rumaihi.

Al Arrayed will take over the new role starting from August 1.

Before being appointed as CEO of First Bahrain Real Estate Development Company, Al Arrayed led a successful professional career as head of retail and placement in the founding team of Reef Real Estate Finance, where he managed real estate projects and acquisitions, and developed a strong income-generating portfolio.

Earlier, Al Arrayed worked as regional head of retail banking at Bank of Bahrain and Kuwait (BBK) and also at the Central Bank of Bahrain and the International Monetary Fund in Washington, DC.

Al Arrayed holds a Masters in Business Administration (MBA) with Distinction from the Kellstadt Graduate School of Business at DePaul University, Chicago, US. His Bachelor’s Degree in Economics is from the University of Redlands, California, US.-TradeArabia News Service