Kooheji Golden Gate has partnered with Indian property developers Ajmera Mayfair to form a joint venture called Golden Gate Developers, promising a blend of state-of-the-art living, modern hospitality and world-class business centers.
Ajmera Mayfair Realty Group have a combined experience of over 100 years in the real estate industry, delivering a total of 40 million square feet of commercial and residential spaces in India and currently having prospects worth more than $4 billion underway. The project is to be developed on Bahrain Bay, which is a hub of prime property in Manama with a beautiful view of the city skyline.
Manoj Ajmera, managing director of Ajmera, said: “Bahrain provides a supportive business environment and a workforce with a strong service ethos, and this project has strengthened our ties with the nation as well as the people of Bahrain.”
Nayan Shah, chairman of Mayfair Housing, said: “According to the Expat Insider Survey findings, Bahrain is now considered the best destination for expats, which broadens the scope for them to consider moving to Bahrain. This is especially an important factor in attracting foreign investment, and trade and business opportunities. It also increases the potential for tourism in the region, as many Indians now consider Bahrain an ideal destination for weddings and holidays.”
Chairman of Kooheji Golden Gate Ishaq Al-Kooheji said: “Under the leadership and visionary guidance of His Royal Highness Prince Salman bin Hamad Al-Khalifa, the crown prince, deputy supreme commander and first deputy prime minister, Vision 2030 promises further transformation to Bahrain and its economy. The establishment of such projects in partnership with internationally renowned companies creates an attractive environment for local and international investments, strengthening ties between both countries while contributing to the economic progression of Bahrain.”
The project will be developed over 140,000 square meters. The total anticipated foreign investment in Bahrain is around $212 million. This partnership aims at further cementing bilateral trade and economic ties between India and Bahrain and opens up the doors to more foreign investment into the country.