Edamah scripting ‘South Side Story’
UPCOMING multi-million dinar investments by Bahrain Real Estate Investment Company (Edamah) are aimed at what the chief executive of the developer describes as the kingdom’s ‘South Side Story’.
He gave an update on projects and future plans in an exclusive interview with the GDN after the real estate arm of Bahrain’s sovereign wealth fund, Mumtalakat, was chosen among the Top 50 GCC Developers 2021 by Construction Week.
Amin Al Arrayed admitted it was ‘nice’ to be recognised among the heavy players for a second year in a row, as he attributed the success to his ‘team’ for turning dreams into reality and ‘building for Bahrain’.
In adding Edamah to its list of ‘the region’s largest real estate developers’, who are boosting the sector’s contribution to the economic growth of GCC nations, the Dubai-based industry publication described Mr Al Arrayed as having ‘led the company to work alongside government and private organisations in the kingdom in order to strengthen the investment environment, focusing on the real estate industry’.
“Edamah has displayed remarkable resilience in the face of Covid-19; it granted extensions on rent payments for businesses across its retail, F&B, and commercial portfolio,” it added. “Additionally, it has been working to develop plans to ensure business continuity for small and medium enterprises in Bahrain.”
According to Mr Al Arrayed, going forward, the plan for the developer is to create ‘destinations’ through major ‘master-planned’ projects.
“There is a substantial difference in the projects we are working on now in terms of size, scale and impact,” he added.
“The intent is to create a lasting impact on the economy, the reputation of Bahrain and to create the kind of project that will ‘move the needle’.”
All roads for Edamah now lead to the southern region of the country, where it has three massive projects underway, including the flagship Bilaj Al Jazayer, a 1.5 million sqm beach destination.
Mr Al Arrayed recently revealed that the acclaimed international Minor Group has been signed up to operate two four-star boutique hotels and a beach club at the heart of the project, as reported in the GDN, and leading architectural firm MSCEB has been awarded the design contract.
“We are hoping that the project will be soon tendered for construction and be operational in 2024,” he added.
He believes that the hotels are a core component of a much bigger master-plan, with Edamah seeking participation from the private sector and investors who can ‘add value’ within strict guidelines.
The renovation of 3km-long beachfront is complete, enhancing the experience for beachgoers, he added.
Another key project for Edamah is the Mantis Bahrain Hawar Island Hotel & Resort, with an eco-tourism theme and featuring overwater villas and its own helipad.
Mr Al Arrayed said activation of Hawar Island is a unique opportunity for Bahrain to differentiate itself.
“We really want to unlock the eco-tourism potential, and tap into the adventure side of the hospitality offering,” he said.
He added that the resort being developed will capitalise on the wildlife, the scenery and beaches.
“The idea is to create a safari sort of experience – as visitors get to see the birds, the dugongs and the Oryx in their natural habitat, all the while making sure that respect for the environment is maintained.”
Rounding off the trio of southern projects is the Jumeirah Khaleej Al Bahrain, being built along a 1.25km stretch of coastline.
Mr Al Arrayed said the resort is the anchor to the Al Sahel development in the southwest.
“The hotel itself is due for completion in 2022 and will be a significant addition to the five star offerings in Bahrain and will also kick-off the activation of the south of Bahrain,” he added.
The development would look to complement the new Bahrain International Exhibition and Convention Centre in Sakhir.
“We have one of the biggest exhibition centres coming up next to the BIC. Visitors coming for the world-class events and trade shows will want accommodation close to the location,” said Mr Al Arrayed.
“The BIC, of course, is a huge draw and so we believe this is a great opportunity to leverage the kind of development that we will see over the next 10 years happening in the southern region.”
And, there’s more to come …
“We have another big project called South City coming up and will reveal more details about it shortly,” he added.
avinash@gdn.com.bh
Source: https://www.gdnonline.com/Details/980526/Edamah-scripting-%E2%80%98South-Side-Story%E2%80%99
