Bahrain-based privately held real estate developer Bin Faqeeh has $500 million invested in ongoing and completed projects, it has emerged.

The company's property consultant Mohamed Fareed Alawadhi told the Gulf Daily News (GDN), our sister publication, yesterday (May 12) that among the projects it is showcasing is the Water Bay mixed-use project in Bahrain Bay, spread over 15,000 sq m.

Work on the project, valued at about BD20 million ($53 million), will commence next month with completion estimated by end of 2017, he said.

The project will have studio apartments with prices starting at BD50,000 ($132,000) and bigger two- and three-bedroom apartments with the biggest of them all being the penthouse, priced at BD300,000 ($795,670).

The project is freehold and available for sale to both GCC residents and foreigners.

Other Bin Faqeeh projects include Dar Al Salam on Reef Island, The Treasure on Dilmunia Island, The Grand and The Breaker in Seef District, 360 Durrat Marina in Durrat Marina and The Nest in Sanabis.

Al Awadhi said the company has realised significant growth over the years, investing in real estate and other types of investments, with experience in virtually every facet of real estate, from construction and development to appraisal, property management, and financing activities.

“We acquire properties that have potential to be developed or repositioned for added value.

“Our development portfolio now includes millions worth of projects, and we are also one of the largest providers of private equity capital to the self-storage industry,” he said.

The company typically enters into joint ventures for new developments, but may also do so for acquisition of existing properties.

Bin Faqeeh Real Estate Investment is looking for opportunities to finance, develop, and/or acquire properties that will provide superior long-term investment returns. - TradeArabia News Service